Citigroup Inc. Upgrades RCS Capital Corp to “Buy” (RCAP)
RCS Capital Corp (NASDAQ:RCAP) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $28.00 price target on the stock, up from their previous price target of $25.50. Citigroup Inc.’s price objective suggests a potential upside of 26.30% from the company’s current price.
A number of other firms have also recently commented on RCAP. Analysts at Zacks upgraded shares of RCS Capital Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 19th. They now have a $23.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of RCS Capital Corp from $27.00 to $29.00 in a research note on Friday, August 8th. Finally, analysts at Bank of America initiated coverage on shares of RCS Capital Corp in a research note on Tuesday, July 8th. They set a “neutral” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.00.
Shares of RCS Capital Corp (NASDAQ:RCAP) traded up 1.17% on Tuesday, hitting $22.43. 946,290 shares of the company’s stock traded hands. RCS Capital Corp has a 52-week low of $15.02 and a 52-week high of $39.98. The stock has a 50-day moving average of $21.31 and a 200-day moving average of $26.56. The company’s market cap is $1.464 billion.
RCS Capital Corp (NASDAQ:RCAP) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.06. On average, analysts predict that RCS Capital Corp will post $2.31 earnings per share for the current fiscal year.
RCS Capital Corporation is a holding company. The Company is engaged in the business of wholesale broker-dealer, investment banking and capital markets business, a transaction management services provider and a transfer agent.
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