Fortress Investment Group LLC Rating Increased to Outperform at Zacks (FIG)
Fortress Investment Group LLC (NYSE:FIG) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Stock Ratings Network.com reports. The firm currently has a $9.80 price target on the stock. Zacks‘ target price would suggest a potential upside of 8.29% from the company’s current price.
Shares of Fortress Investment Group LLC (NYSE:FIG) traded down 0.22% on Friday, hitting $9.03. 819,720 shares of the company’s stock traded hands. Fortress Investment Group LLC has a 52 week low of $5.01 and a 52 week high of $9.12. The stock’s 50-day moving average is $8.51 and its 200-day moving average is $7.93. The company has a market cap of $2.163 billion and a price-to-earnings ratio of 14.79.
Fortress Investment Group LLC (NYSE:FIG) last announced its earnings results on Thursday, October 31st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.02. The company had revenue of $232.00 million for the quarter, compared to the consensus estimate of $216.15 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts predict that Fortress Investment Group LLC will post $0.80 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Fortress Investment Group LLC from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, November 14th. They now have a $8.50 price target on the stock, down previously from $9.50. Analysts at Jefferies Group raised their price target on shares of Fortress Investment Group LLC from $8.00 to $9.00 in a research note to investors on Friday, November 1st. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $9.07.
Fortress Investment Group LLC (NYSE:FIG) is a global investment manager with approximately $41.
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