Inter & Co. Inc. (NASDAQ:INTR) Shares Up 6.8% After Analyst Upgrade

Inter & Co. Inc. (NASDAQ:INTR) shot up 6.8% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $11.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Inter & Co. Inc. traded as high as $6.99 and last traded at $7.0050. Approximately 4,192,553 shares were traded during trading, a decline of 12% from the average session volume of 4,748,810 shares. The stock had previously closed at $6.56.

Several other research firms have also issued reports on INTR. UBS Group lowered their target price on shares of Inter & Co. Inc. from $9.40 to $8.80 and set a “buy” rating for the company in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Inter & Co. Inc. from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.56.

Institutional Trading of Inter & Co. Inc.

Institutional investors and hedge funds have recently made changes to their positions in the business. Navi International Administradora e Gestora de Recursos Financeiros Ltda. bought a new stake in Inter & Co. Inc. during the 2nd quarter valued at about $13,267,000. Wellington Management Group LLP increased its position in shares of Inter & Co. Inc. by 16.2% during the second quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company’s stock worth $35,147,000 after acquiring an additional 904,682 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Inter & Co. Inc. during the first quarter worth approximately $1,849,000. Bank of America Corp DE raised its stake in shares of Inter & Co. Inc. by 84.3% during the first quarter. Bank of America Corp DE now owns 1,488,581 shares of the company’s stock valued at $11,849,000 after acquiring an additional 680,958 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of Inter & Co. Inc. by 1,059.2% during the first quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company’s stock valued at $32,029,000 after acquiring an additional 3,676,696 shares in the last quarter. 22.90% of the stock is currently owned by institutional investors.

Inter & Co. Inc. Stock Up 2.1%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $3.17 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.35 and a beta of 0.94. The business has a fifty day moving average of $5.53 and a 200-day moving average of $6.19.

Inter & Co. Inc. (NASDAQ:INTR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $475.45 million for the quarter, compared to the consensus estimate of $513.31 million. Inter & Co. Inc. had a return on equity of 14.94% and a net margin of 11.23%. Equities research analysts anticipate that Inter & Co. Inc. will post 0.75 earnings per share for the current year.

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital banking and commerce ecosystem serving customers primarily in Brazil. The company provides financial products through a mobile application designed to bring banking, payments and other consumer services together in one platform.

Its offerings include digital checking accounts, payment services, credit cards, personal and payroll loans, mortgages, insurance, foreign-exchange services and investment products.