Jefferies Group Initiates Coverage on Virtus Investment Partners (VRTS)
Research analysts at Jefferies Group began coverage on shares of Virtus Investment Partners (NASDAQ:VRTS) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $175.00 price target on the stock. Jefferies Group’s price objective suggests a potential upside of 12.64% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of VRTS with a HOLD rating and $175 price target. We believe VRTS has the potential to continue growing at an above industry pace over the next few years. However, near-term the company faces headwinds from lackluster 1-year fund performance and notable exposure to fixed income, which make it more challenging to outperform equity-centric peers. Given these factors, at 16x our 2014 EPS estimate, we see limited upside in the shares.”
Virtus Investment Partners (NASDAQ:VRTS) opened at 155.36 on Wednesday. Virtus Investment Partners has a 52-week low of $87.82 and a 52-week high of $248.89. The stock has a 50-day moving average of $169.3 and a 200-day moving average of $191.9. The company has a market cap of $1.215 billion and a price-to-earnings ratio of 23.61.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.91 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.01 by $0.10. The company had revenue of $96.14 million for the quarter, compared to the consensus estimate of $94.14 million. During the same quarter last year, the company posted $1.04 earnings per share. Analysts expect that Virtus Investment Partners will post $8.20 EPS for the current fiscal year.
Virtus Investment Partners, Inc (NASDAQ:VRTS) is a provider of investment management products and services to individuals and institutions.
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