Altisource Residential Corp Rating Lowered to Underperform at Zacks (RESI)
Altisource Residential Corp (NASDAQ:RESI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Friday. They currently have a $25.00 price target on the stock. Zacks‘s target price suggests a potential downside of 5.48% from the stock’s previous close.
A number of other analysts have also recently weighed in on RESI. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Altisource Residential Corp in a research note on Wednesday. They now have a $35.00 price target on the stock, down previously from $36.00. Separately, analysts at JMP Securities reiterated a “market perform” rating on shares of Altisource Residential Corp in a research note on Wednesday. They now have a $38.00 price target on the stock, down previously from $40.00. Finally, analysts at Citigroup Inc. initiated coverage on shares of Altisource Residential Corp in a research note on Monday, June 30th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.60.
Altisource Residential Corp (NASDAQ:RESI) traded up 0.49% during mid-day trading on Friday, hitting $26.45. The stock had a trading volume of 430,817 shares. Altisource Residential Corp has a 1-year low of $18.52 and a 1-year high of $35.05. The stock’s 50-day moving average is $26.78 and its 200-day moving average is $28.5. The company has a market cap of $1.512 billion and a P/E ratio of 8.20.
Altisource Residential Corp (NASDAQ:RESI) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.53. The company had revenue of $116.04 million for the quarter, compared to the consensus estimate of $78.21 million. Altisource Residential Corp’s revenue was up 1218.2% compared to the same quarter last year. On average, analysts predict that Altisource Residential Corp will post $3.24 earnings per share for the current fiscal year.
Altisource Residential Corporation is a development-stage company engaged in the acquisition and ownership of single-family rental assets.
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