St. Joe Co (NYSE:JOE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $21.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.11% from the company’s current price.

According to Zacks, “Shares of St. Joe have outperformed its industry over the past month. The stock has seen the Zacks Consensus Estimate for third-quarter and current-year earnings remaining unchanged in two months’ time. Notably, the company has been making strategic efforts to enhance its leasing portfolio, while opting to sell commercial property selectively. As part of such efforts, during the first half of 2017, it increased its rentable space by 67,000 square feet with an additional 144,000 square feet of build-to-suit space under construction. Further, St. Joe is aimed at growing its resorts and leisure business. These portfolio rebalancing efforts are likely to help the company bolster its revenues and provide a more stable source of earnings. However, regional business concentration and revenue volatility in certain segments remain concerns.”

Separately, BidaskClub raised shares of St. Joe from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd.

St. Joe (JOE) traded down 1.06% on Tuesday, reaching $18.70. The company’s stock had a trading volume of 333,259 shares. The company has a market capitalization of $1.32 billion, a PE ratio of 67.03 and a beta of 0.87. The firm has a 50-day moving average of $18.71 and a 200-day moving average of $18.20. St. Joe has a one year low of $16.30 and a one year high of $21.90.

St. Joe (NYSE:JOE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.11. St. Joe had a net margin of 34.93% and a return on equity of 6.74%. The firm had revenue of $30.40 million during the quarter. Analysts predict that St. Joe will post $0.25 EPS for the current year.

St. Joe announced that its board has authorized a stock buyback plan on Thursday, September 21st that authorizes the company to buyback $66.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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Several institutional investors have recently bought and sold shares of the company. Fairholme Capital Management LLC raised its stake in shares of St. Joe by 4.4% during the second quarter. Fairholme Capital Management LLC now owns 25,484,557 shares of the financial services provider’s stock valued at $477,835,000 after acquiring an additional 1,083,400 shares in the last quarter. BlackRock Inc. raised its stake in shares of St. Joe by 12,179.7% during the first quarter. BlackRock Inc. now owns 14,342,066 shares of the financial services provider’s stock valued at $244,531,000 after acquiring an additional 14,225,271 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of St. Joe during the second quarter valued at approximately $184,654,000. Vanguard Group Inc. raised its stake in shares of St. Joe by 2.3% during the first quarter. Vanguard Group Inc. now owns 4,193,126 shares of the financial services provider’s stock valued at $71,493,000 after acquiring an additional 95,162 shares in the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of St. Joe by 9.4% during the second quarter. Brandes Investment Partners LP now owns 2,034,434 shares of the financial services provider’s stock valued at $38,153,000 after acquiring an additional 175,221 shares in the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

St. Joe Company Profile

The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.

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