InnerWorkings, Inc. (INWK) Given Average Recommendation of “Buy” by Brokerages
InnerWorkings, Inc. (NASDAQ:INWK) has been given a consensus rating of “Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.00.
Several equities analysts have recently weighed in on INWK shares. Zacks Investment Research upgraded shares of InnerWorkings from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Lake Street Capital initiated coverage on shares of InnerWorkings in a report on Monday, October 2nd. They issued a “buy” rating and a $14.00 target price for the company. Finally, Dougherty & Co initiated coverage on shares of InnerWorkings in a report on Tuesday, October 31st. They issued a “buy” rating and a $14.00 target price for the company.
Several institutional investors and hedge funds have recently made changes to their positions in INWK. Stifel Financial Corp acquired a new position in shares of InnerWorkings in the second quarter worth about $7,623,000. Renaissance Technologies LLC boosted its holdings in shares of InnerWorkings by 75.2% in the second quarter. Renaissance Technologies LLC now owns 1,055,500 shares of the business services provider’s stock worth $12,244,000 after buying an additional 453,200 shares during the period. American Century Companies Inc. boosted its holdings in shares of InnerWorkings by 31.4% in the third quarter. American Century Companies Inc. now owns 1,377,614 shares of the business services provider’s stock worth $15,498,000 after buying an additional 329,304 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of InnerWorkings in the third quarter worth about $2,784,000. Finally, Vanguard Group Inc. boosted its holdings in shares of InnerWorkings by 4.6% in the second quarter. Vanguard Group Inc. now owns 3,669,795 shares of the business services provider’s stock worth $42,570,000 after buying an additional 160,330 shares during the period. Institutional investors own 80.96% of the company’s stock.
InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. InnerWorkings had a net margin of 2.04% and a return on equity of 9.53%. The company had revenue of $288.40 million during the quarter, compared to analyst estimates of $289.82 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. sell-side analysts expect that InnerWorkings will post 0.49 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/12/16/innerworkings-inc-inwk-given-average-recommendation-of-buy-by-brokerages.html.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.
Receive News & Ratings for InnerWorkings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnerWorkings and related companies with MarketBeat.com's FREE daily email newsletter.