The St. Joe Co. (JOE) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of The St. Joe Co. (NYSE:JOE) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday. They currently have $21.00 price objective on the stock.
According to Zacks, “For St. Joe, full year 2016 earnings per share estimate moved north lately. The company has mostly positive record of earnings surprises in recent quarters. Notably, the company makes concerted efforts to enhance its resorts, leisure business and leasing operations. We believe that such efforts would aid in boosting its profitability going forward. Sale of non-strategic assets also provides it with substantial liquidity for developmental needs. But volatility in sales revenues at a few segments, and regional business concentration increases its risk.”
Shares of The St. Joe (NYSE:JOE) traded up 0.2608% during mid-day trading on Wednesday, hitting $18.2575. 22,618 shares of the stock traded hands. The St. Joe has a one year low of $14.27 and a one year high of $21.64. The firm has a market capitalization of $1.36 billion, a P/E ratio of 134.2463 and a beta of 0.81. The company’s 50 day moving average is $18.72 and its 200 day moving average is $17.73.
The St. Joe (NYSE:JOE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The St. Joe had a net margin of 10.94% and a return on equity of 0.25%. On average, equities analysts expect that The St. Joe will post $0.12 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of The St. Joe by 563.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,724 shares of the company’s stock valued at $101,000 after buying an additional 4,861 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of The St. Joe by 146.5% in the third quarter. BNP Paribas Arbitrage SA now owns 5,552 shares of the company’s stock valued at $102,000 after buying an additional 3,300 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of The St. Joe by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 7,384 shares of the company’s stock valued at $131,000 after buying an additional 892 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of The St. Joe by 14.1% in the second quarter. Parametric Portfolio Associates LLC now owns 11,504 shares of the company’s stock valued at $204,000 after buying an additional 1,420 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of The St. Joe during the second quarter valued at $246,000. 95.02% of the stock is currently owned by institutional investors.
About The St. Joe
The St. Joe Company is a real estate development and operating company, asset management and operating company with real estate assets and operations concentrated primarily between Tallahassee and Destin, Florida. The Company has residential and commercial land-use entitlements in hand or in process.
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