Monotype Imaging Holdings Inc. (TYPE) Given $24.75 Consensus Price Target by Brokerages
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) have been assigned a consensus broker rating score of 2.25 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. Monotype Imaging Holdings’ rating score has declined by 69.2% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a twelve-month consensus price objective of $24.75 for the company and are expecting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also given Monotype Imaging Holdings an industry rank of 163 out of 265 based on the ratings given to related companies.
TYPE has been the subject of a number of recent research reports. Zacks Investment Research downgraded Monotype Imaging Holdings from a “hold” rating to a “sell” rating in a research report on Friday, October 7th. B. Riley reiterated a “buy” rating and issued a $24.00 price objective on shares of Monotype Imaging Holdings in a research report on Thursday, July 28th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/monotype-imaging-holdings-inc-type-given-24-75-consensus-price-target-by-brokerages.html
In other Monotype Imaging Holdings news, EVP Benjamin W.L. Semmes III bought 12,500 shares of Monotype Imaging Holdings stock in a transaction dated Monday, August 1st. The shares were purchased at an average cost of $20.49 per share, with a total value of $256,125.00. Following the completion of the purchase, the executive vice president now owns 62,163 shares of the company’s stock, valued at $1,273,719.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $25.12, for a total value of $50,240.00. Following the transaction, the vice president now directly owns 81,883 shares in the company, valued at $2,056,900.96. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new position in Monotype Imaging Holdings during the second quarter valued at about $108,000. Huntington National Bank boosted its position in Monotype Imaging Holdings by 29.8% in the second quarter. Huntington National Bank now owns 4,933 shares of the company’s stock valued at $121,000 after buying an additional 1,132 shares during the period. PineBridge Investments L.P. boosted its position in Monotype Imaging Holdings by 5.5% in the second quarter. PineBridge Investments L.P. now owns 5,157 shares of the company’s stock valued at $127,000 after buying an additional 267 shares during the period. Teacher Retirement System of Texas boosted its position in Monotype Imaging Holdings by 13.5% in the second quarter. Teacher Retirement System of Texas now owns 5,583 shares of the company’s stock valued at $138,000 after buying an additional 665 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Monotype Imaging Holdings by 36.8% in the second quarter. Victory Capital Management Inc. now owns 5,728 shares of the company’s stock valued at $141,000 after buying an additional 1,541 shares during the period. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
Monotype Imaging Holdings (NASDAQ:TYPE) traded down 0.28% during trading on Thursday, hitting $21.30. 39,696 shares of the company’s stock traded hands. The company’s 50 day moving average price is $21.27 and its 200 day moving average price is $22.47. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76. The company has a market cap of $838.73 million, a PE ratio of 34.63 and a beta of 0.90.
Monotype Imaging Holdings (NASDAQ:TYPE) last released its earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The company earned $48.70 million during the quarter, compared to the consensus estimate of $48.98 million. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. Monotype Imaging Holdings’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. Analysts expect that Monotype Imaging Holdings will post $0.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.44 annualized dividend and a dividend yield of 2.06%. Monotype Imaging Holdings’s dividend payout ratio (DPR) is presently 72.13%.
Monotype Imaging Holdings Company Profile
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company’s business segment operates through development, marketing and licensing of technologies and fonts. Its business includes Creative Professional and original equipment manufacturer (OEM).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Monotype Imaging Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monotype Imaging Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.