RBC Capital Increases Fortress Investment Group Price Target to $12.00 (FIG)
Stock analysts at RBC Capital increased their target price on shares of Fortress Investment Group (NYSE:FIG) from $11.00 to $12.00 in a report issued on Monday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 58.31% from the company’s current price.
Shares of Fortress Investment Group (NYSE:FIG) traded up 0.13% during mid-day trading on Monday, hitting $7.59. 447,647 shares of the company’s stock traded hands. Fortress Investment Group has a 1-year low of $6.27 and a 1-year high of $9.16. The stock’s 50-day moving average is $7.27 and its 200-day moving average is $7.90. The company has a market cap of $1.551 billion and a price-to-earnings ratio of 9.55.
Fortress Investment Group (NYSE:FIG) last announced its earnings results on Thursday, May 1st. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.05. The company had revenue of $235.10 million for the quarter, compared to the consensus estimate of $228.28 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts expect that Fortress Investment Group will post $0.80 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at FIG Partners downgraded shares of Fortress Investment Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Separately, analysts at Oppenheimer reiterated an “outperform” rating on shares of Fortress Investment Group in a research note on Friday, May 2nd. They now have a $14.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of Fortress Investment Group from $10.50 to $9.75 in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Fortress Investment Group has an average rating of “Hold” and an average target price of $10.18.
Fortress Investment Group LLC (NYSE:FIG), is a global investment management firm.
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