Altisource Residential Corp. (NYSE:RESI) had its target price increased by research analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a research report issued on Wednesday. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 27.33% from the company’s previous close.

RESI has been the subject of several other research reports. Zacks Investment Research raised shares of Altisource Residential Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Northland Securities began coverage on shares of Altisource Residential Corp. in a research report on Thursday, August 18th. They issued an “outperform” rating for the company. Nomura reissued a “buy” rating and issued a $15.00 price objective on shares of Altisource Residential Corp. in a research report on Friday, September 23rd. Deutsche Bank AG set a $18.50 target price on shares of Altisource Residential Corp. and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Citigroup Inc. upped their target price on shares of Altisource Residential Corp. from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Altisource Residential Corp. has an average rating of “Hold” and a consensus target price of $14.25.

Analyst Recommendations for Altisource Residential Corp. (NYSE:RESI)

Shares of Altisource Residential Corp. (NYSE:RESI) traded up 0.51% during midday trading on Wednesday, reaching $11.78. 339,864 shares of the company traded hands. The company has a 50 day moving average of $10.74 and a 200 day moving average of $10.20. The firm’s market capitalization is $634.58 million. Altisource Residential Corp. has a 12 month low of $7.81 and a 12 month high of $14.07.

Altisource Residential Corp. (NYSE:RESI) last released its quarterly earnings data on Monday, November 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.58. Altisource Residential Corp. had a negative return on equity of 16.34% and a negative net margin of 338.43%. The business earned $4.40 million during the quarter, compared to analyst estimates of $27.97 million. During the same period in the previous year, the company earned ($0.09) EPS. On average, equities research analysts predict that Altisource Residential Corp. will post ($2.82) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “JPMorgan Chase & Co. Boosts Altisource Residential Corp. (RESI) Price Target to $15.00” was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright laws. The legal version of this story can be accessed at https://www.thecerbatgem.com/2016/11/30/jpmorgan-chase-co-boosts-altisource-residential-corp-resi-price-target-to-15-00.html.

In related news, Director David B. Reiner acquired 3,500 shares of Altisource Residential Corp. stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $11.57 per share, for a total transaction of $40,495.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George G. Ellison acquired 22,000 shares of Altisource Residential Corp. stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $11.30 per share, for a total transaction of $248,600.00. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. bought a new position in Altisource Residential Corp. during the third quarter worth approximately $117,000. BlackRock Inc. increased its position in Altisource Residential Corp. by 231.5% in the second quarter. BlackRock Inc. now owns 15,077 shares of the company’s stock worth $138,000 after buying an additional 10,529 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Altisource Residential Corp. during the second quarter worth about $141,000. Mackenzie Financial Corp acquired a new position in Altisource Residential Corp. during the third quarter worth about $141,000. Finally, SG Americas Securities LLC acquired a new position in Altisource Residential Corp. during the third quarter worth about $158,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Altisource Residential Corp. Company Profile

Altisource Residential Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and managing single-family rental properties throughout the United States. The Company operates through the segment focused on the resolution of sub-performing and non-performing mortgages, and acquisition and ownership of rental residential properties.

5 Day Chart for NYSE:RESI

Receive News & Stock Ratings for Altisource Residential Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altisource Residential Corp. and related stocks with our FREE daily email newsletter.