Oaktree Capital Group LLC Stock Rating Reaffirmed by Bank of America Corp. (OAK)
Oaktree Capital Group LLC (NYSE:OAK)‘s stock had its “hold” rating restated by investment analysts at Bank of America Corp. in a note issued to investors on Monday, AmericanBankingNews.com reports. They currently have a $58.00 price target on the stock. Bank of America Corp.’s price objective suggests a potential upside of 5.40% from the company’s current price.
Shares of Oaktree Capital Group LLC (NYSE:OAK) traded down 0.97% on Monday, hitting $55.03. 90,823 shares of the company’s stock traded hands. Oaktree Capital Group LLC has a 1-year low of $39.70 and a 1-year high of $59.50. The stock has a 50-day moving average of $53.39 and a 200-day moving average of $53.02. The company has a market cap of $2.104 billion and a price-to-earnings ratio of 9.62.
Oaktree Capital Group LLC (NYSE:OAK) last announced its earnings results on Tuesday, August 6th. The company reported $1.75 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.62 by $0.13. The company had revenue of $555.10 million for the quarter, compared to the consensus estimate of $543.91 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 62.7% on a year-over-year basis. On average, analysts predict that Oaktree Capital Group LLC will post $5.82 earnings per share for the current fiscal year.
A number of other firms have also recently commented on OAK. Analysts at Credit Suisse cut their price target on shares of Oaktree Capital Group LLC to $60.00 in a research note to investors on Monday. Separately, analysts at Merrill Lynch downgraded shares of Oaktree Capital Group LLC from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 16th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Oaktree Capital Group LLC from $61.00 to $62.00 in a research note to investors on Tuesday, July 16th. They now have a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $60.20.
Oaktree Capital Group, LLC (NYSE:OAK) is a global investment management firm focused on alternative markets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.