Safeguard Scientifics (SFE) Lifted to “Buy” at Zacks Investment Research

Safeguard Scientifics (NYSE:SFE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $14.00 price target on the asset manager’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.82% from the company’s previous close.

According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “

A number of other analysts have also recently commented on SFE. ValuEngine cut Safeguard Scientifics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Keefe, Bruyette & Woods reissued a “mkt perform” rating and set a $13.25 price objective on shares of Safeguard Scientifics in a research report on Wednesday, December 6th.

Shares of Safeguard Scientifics (NYSE SFE) traded up $0.12 on Friday, hitting $12.52. The stock had a trading volume of 40,879 shares, compared to its average volume of 141,588. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. Safeguard Scientifics has a 12-month low of $10.65 and a 12-month high of $14.40. The company has a market cap of $257.20, a PE ratio of -2.77 and a beta of 1.36.

Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC bought a new position in Safeguard Scientifics during the third quarter valued at $136,000. Nationwide Fund Advisors grew its stake in shares of Safeguard Scientifics by 7.6% in the second quarter. Nationwide Fund Advisors now owns 14,195 shares of the asset manager’s stock worth $169,000 after purchasing an additional 1,006 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Safeguard Scientifics by 27.4% in the second quarter. Alliancebernstein L.P. now owns 14,430 shares of the asset manager’s stock worth $172,000 after purchasing an additional 3,100 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Safeguard Scientifics by 12.8% in the second quarter. Voya Investment Management LLC now owns 16,710 shares of the asset manager’s stock worth $199,000 after purchasing an additional 1,896 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Safeguard Scientifics by 3.1% in the second quarter. Parametric Portfolio Associates LLC now owns 17,132 shares of the asset manager’s stock worth $204,000 after purchasing an additional 513 shares during the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.

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About Safeguard Scientifics

Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.

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