Rentrak Upgraded by Zacks to Neutral (RENT)
Rentrak (NASDAQ:RENT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday. The firm currently has a $52.70 price objective on the stock. Zacks‘s price objective points to a potential upside of 1.99% from the company’s current price.
Shares of Rentrak (NASDAQ:RENT) traded down 0.52% during mid-day trading on Tuesday, hitting $51.40. 35,447 shares of the company’s stock traded hands. Rentrak has a one year low of $20.92 and a one year high of $69.00. The stock has a 50-day moving average of $52.39 and a 200-day moving average of $55.99. The company’s market cap is $631.5 million.
Rentrak (NASDAQ:RENT) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.05. The company had revenue of $21.56 million for the quarter, compared to the consensus estimate of $21.55 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 39.8% on a year-over-year basis. Analysts expect that Rentrak will post $0.01 EPS for the current fiscal year.
RENT has been the subject of a number of other recent research reports. Analysts at Brean Capital cut their price target on shares of Rentrak from $74.00 to $72.00 in a research note on Wednesday, June 4th. They now have a “buy” rating on the stock. Analysts at Sidoti initiated coverage on shares of Rentrak in a research note on Friday, May 16th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.68.
Rentrak Corporation is global media measurement and distribution company serving the entertainment, television and advertising industries.
To view Zacks’ full report, visit Zacks’ official website.
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