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St. Joe (NYSE:JOE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, AnalystRatingsNetwork reports. They currently have a $19.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 2.48% from the company’s current price.

Zacks‘ analyst wrote, “We are downgrading our recommendation on St. Joe to Neutral from Outperform. While the company’s focus on its residential resort communities, primary homes and the active adult residential market is encouraging and efforts like expansion of its vacation rental program and launching a private membership club seems appropriate, we believe that the positives have already been factored in the current valuation. The company’s third-quarter earnings per share outpaced the Zacks Consensus Estimate on the back of lower expenses and improved revenues from its resorts, leisure and leasing operations. In addition, the company has adopted stringent cost-cutting measures to improve its bottom line. Yet, St. Joe is continuing to experience a tepid and intermittent pace of commercial activity and this remains a concern.”

Separately, analysts at Raymond James upgraded shares of St. Joe from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, November 20th.

St. Joe (NYSE:JOE) traded down 0.16% during mid-day trading on Friday, hitting $18.54. The stock had a trading volume of 450,452 shares. St. Joe has a 52-week low of $16.82 and a 52-week high of $23.46. The stock has a 50-day moving average of $18.49 and a 200-day moving average of $19.29. The company’s market cap is $1.711 billion.

The St. Joe Company owns land, timber and resort assets located primarily in Northwest Florida, Jacksonville, Florida and Tallahassee, Florida.

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