RetailMeNot Inc. (SALE) Stock Rating Lowered by Zacks Investment Research
RetailMeNot Inc. (NASDAQ:SALE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “RetailMeNot, Inc. operates as a digital coupon marketplace that connects consumers with retailers and brands. It offers online deal information that enables users to purchase goods and services at a discount. The company’s portfolio of coupon and deal websites includes www.RetailMeNot.com, www.RetailMeNot.ca, www.VoucherCodes.co.uk, www.Deals.com, www.Actiepagina.nl, Bons-de-Reduction.com, www.ma-Reduc.com, www.Poulpeo.com and www.Deals2Buy.com. RetailMeNot, Inc. is headquartered in Austin, Texas. “
Several other brokerages also recently issued reports on SALE. Morgan Stanley downgraded shares of RetailMeNot from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.49 to $8.60 in a research note on Monday, September 12th. Stifel Nicolaus downgraded shares of RetailMeNot from a “hold” rating to a “sell” rating and set a $9.00 price objective for the company. in a research note on Monday, September 26th. Jefferies Group reissued a “buy” rating and issued a $12.50 price objective on shares of RetailMeNot in a research note on Monday, August 15th. Dougherty & Co initiated coverage on shares of RetailMeNot in a research note on Thursday, August 25th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Loop Capital initiated coverage on shares of RetailMeNot in a research note on Tuesday, September 13th. They issued a “hold” rating and a $11.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.46.
Shares of RetailMeNot (NASDAQ:SALE) traded up 0.30% during mid-day trading on Wednesday, hitting $9.91. The stock had a trading volume of 126,792 shares. The stock has a market cap of $482.38 million, a P/E ratio of 56.63 and a beta of 0.78. RetailMeNot has a 52-week low of $5.52 and a 52-week high of $12.93. The company’s 50 day moving average is $11.08 and its 200-day moving average is $8.81.
RetailMeNot (NASDAQ:SALE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. RetailMeNot had a net margin of 3.49% and a return on equity of 4.35%. The firm earned $64.20 million during the quarter, compared to the consensus estimate of $62.89 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that RetailMeNot will post $0.59 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of RetailMeNot by 17.0% in the second quarter. JPMorgan Chase & Co. now owns 4,071,583 shares of the company’s stock valued at $31,392,000 after buying an additional 592,163 shares during the last quarter. Vanguard Group Inc. raised its position in shares of RetailMeNot by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,730,422 shares of the company’s stock valued at $21,051,000 after buying an additional 68,326 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of RetailMeNot by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,585,337 shares of the company’s stock valued at $12,222,000 after buying an additional 210,304 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of RetailMeNot by 26.0% in the first quarter. Renaissance Technologies LLC now owns 1,528,300 shares of the company’s stock valued at $12,242,000 after buying an additional 315,000 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of RetailMeNot by 22.0% in the second quarter. BlackRock Fund Advisors now owns 998,443 shares of the company’s stock valued at $7,698,000 after buying an additional 180,185 shares during the last quarter. 78.25% of the stock is currently owned by institutional investors.
RetailMeNot Company Profile
RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.
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