Zacks: HC2 Holdings Inc (HCHC) Given $11.50 Consensus Price Target by Brokerages

Shares of HC2 Holdings Inc (NYSE:HCHC) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $11.50 for the company and are anticipating that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned HC2 an industry rank of 107 out of 265 based on the ratings given to its competitors.

A number of equities analysts have weighed in on HCHC shares. B. Riley set a $10.00 price target on HC2 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded HC2 from a “hold” rating to a “sell” rating in a research report on Monday, November 13th.

A number of hedge funds and other institutional investors have recently made changes to their positions in HCHC. Voya Investment Management LLC boosted its holdings in shares of HC2 by 29.2% during the second quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock worth $118,000 after acquiring an additional 4,546 shares during the period. Alliancebernstein L.P. bought a new stake in shares of HC2 during the second quarter worth approximately $151,000. New York State Common Retirement Fund boosted its holdings in shares of HC2 by 5.6% during the second quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock worth $154,000 after acquiring an additional 1,399 shares during the period. PEAK6 Investments L.P. bought a new stake in shares of HC2 during the third quarter worth approximately $179,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of HC2 by 11.2% during the second quarter. Goldman Sachs Group Inc. now owns 32,490 shares of the technology company’s stock worth $191,000 after acquiring an additional 3,273 shares during the period. 59.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HC2 (HCHC) traded down $0.02 during midday trading on Tuesday, reaching $5.12. The company’s stock had a trading volume of 47,013 shares, compared to its average volume of 136,036. The firm has a market capitalization of $221.73, a P/E ratio of -1.98 and a beta of 0.67. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06. HC2 has a 1 year low of $4.30 and a 1 year high of $6.71.

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About HC2

HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.

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