Zacks Investment Research Downgrades RetailMeNot Inc. (SALE) to Hold
RetailMeNot Inc. (NASDAQ:SALE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “RetailMeNot, Inc. operates as a digital coupon marketplace that connects consumers with retailers and brands. It offers online deal information that enables users to purchase goods and services at a discount. The company’s portfolio of coupon and deal websites includes www.RetailMeNot.com, www.RetailMeNot.ca, www.VoucherCodes.co.uk, www.Deals.com, www.Actiepagina.nl, Bons-de-Reduction.com, www.ma-Reduc.com, www.Poulpeo.com and www.Deals2Buy.com. RetailMeNot, Inc. is headquartered in Austin, Texas. “
Several other research analysts also recently issued reports on SALE. Jefferies Group reaffirmed a “buy” rating on shares of RetailMeNot in a research note on Monday, July 11th. TheStreet raised RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Wedbush set a $10.00 price objective on RetailMeNot and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Boenning Scattergood assumed coverage on RetailMeNot in a research note on Thursday, September 29th. They issued a “neutral” rating for the company. Finally, Loop Capital assumed coverage on RetailMeNot in a research note on Tuesday, September 13th. They issued a “hold” rating and a $11.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.46.
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RetailMeNot (NASDAQ:SALE) traded down 1.78% on Wednesday, reaching $9.40. 229,065 shares of the company traded hands. The firm has a 50 day moving average of $10.86 and a 200-day moving average of $8.84. The stock has a market capitalization of $457.55 million, a PE ratio of 53.71 and a beta of 0.78. RetailMeNot has a one year low of $5.52 and a one year high of $12.93.
RetailMeNot (NASDAQ:SALE) last posted its earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The firm earned $64.20 million during the quarter, compared to analysts’ expectations of $62.89 million. RetailMeNot had a net margin of 3.49% and a return on equity of 4.35%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, analysts anticipate that RetailMeNot will post $0.59 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its stake in RetailMeNot by 899.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,866 shares of the company’s stock worth $3,027,000 after buying an additional 340,067 shares during the last quarter. Prudential Financial Inc. boosted its stake in RetailMeNot by 12.9% in the first quarter. Prudential Financial Inc. now owns 419,281 shares of the company’s stock worth $3,359,000 after buying an additional 48,031 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in RetailMeNot by 34.9% in the first quarter. A.R.T. Advisors LLC now owns 239,944 shares of the company’s stock worth $1,921,000 after buying an additional 62,100 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in RetailMeNot by 18.4% in the second quarter. Rothschild Asset Management Inc. now owns 232,457 shares of the company’s stock worth $1,792,000 after buying an additional 36,075 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in RetailMeNot by 83.4% in the first quarter. JPMorgan Chase & Co. now owns 3,479,420 shares of the company’s stock worth $27,870,000 after buying an additional 1,581,895 shares during the last quarter. Institutional investors own 78.25% of the company’s stock.
RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.
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