Zacks Investment Research Lowers RetailMeNot Inc. (SALE) to Sell
RetailMeNot Inc. (NASDAQ:SALE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
SALE has been the topic of several other reports. Dougherty & Co began coverage on RetailMeNot in a research report on Thursday, August 25th. They set a “buy” rating and a $15.00 price objective on the stock. Stifel Nicolaus cut RetailMeNot from a “hold” rating to a “sell” rating and set a $9.00 price objective on the stock. in a research report on Monday, September 26th. Boenning Scattergood began coverage on RetailMeNot in a research report on Thursday, September 29th. They set a “neutral” rating on the stock. TheStreet raised RetailMeNot from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Finally, Morgan Stanley cut RetailMeNot from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $11.49 to $8.60 in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $12.46.
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Shares of RetailMeNot (NASDAQ:SALE) opened at 9.29 on Wednesday. The stock’s 50 day moving average price is $10.72 and its 200 day moving average price is $8.87. RetailMeNot has a 12 month low of $5.52 and a 12 month high of $12.93. The company has a market capitalization of $452.20 million, a PE ratio of 53.09 and a beta of 0.78.
RetailMeNot (NASDAQ:SALE) last released 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. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. The firm had revenue of $64.20 million for the quarter, compared to analysts’ expectations of $62.89 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that RetailMeNot will post $0.59 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boothbay Fund Management LLC increased its position in RetailMeNot by 2.2% in the first quarter. Boothbay Fund Management LLC now owns 15,912 shares of the company’s stock valued at $127,000 after buying an additional 343 shares during the period. Guggenheim Capital LLC increased its position in RetailMeNot by 4.3% in the second quarter. Guggenheim Capital LLC now owns 15,235 shares of the company’s stock valued at $118,000 after buying an additional 630 shares during the period. BlackRock Advisors LLC increased its position in RetailMeNot by 14.9% in the second quarter. BlackRock Advisors LLC now owns 18,606 shares of the company’s stock valued at $143,000 after buying an additional 2,416 shares during the period. Trexquant Investment LP increased its position in RetailMeNot by 15.4% in the second quarter. Trexquant Investment LP now owns 23,374 shares of the company’s stock valued at $180,000 after buying an additional 3,114 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in RetailMeNot by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 945,429 shares of the company’s stock valued at $7,289,000 after buying an additional 3,805 shares during the period. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
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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