Zacks Downgrades Altisource Residential Corp to Neutral (RESI)
Altisource Residential Corp (NASDAQ:RESI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, Stock Ratings News reports. They currently have a $34.40 target price on the stock. Zacks‘ target price would indicate a potential upside of 7.00% from the stock’s previous close.
Altisource Residential Corp (NASDAQ:RESI) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.48. The company had revenue of $19.59 million for the quarter, compared to the consensus estimate of $17.49 million.
RESI has been the subject of a number of other recent research reports. Analysts at Deutsche Bank initiated coverage on shares of Altisource Residential Corp in a research note to investors on Wednesday, November 27th. They set a “buy” rating and a $31.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Altisource Residential Corp from $25.00 to $27.00 in a research note to investors on Wednesday, October 23rd. They now have a “market perform” rating on the stock. Finally, analysts at JMP Securities raised their price target on shares of Altisource Residential Corp from $27.00 to $35.00 in a research note to investors on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Altisource Residential Corp presently has a consensus rating of “Buy” and an average price target of $29.90.
Altisource Residential Corporation is a development-stage company engaged in the acquisition and ownership of single-family rental assets.
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