Angi (NASDAQ:ANGI) Reaches New 12-Month Low on Analyst Downgrade

Angi Inc. (NASDAQ:ANGI)’s stock price hit a new 52-week low during trading on Tuesday after KeyCorp lowered their price target on the stock from $22.00 to $19.00. KeyCorp currently has an overweight rating on the stock. Angi traded as low as $10.93 and last traded at $11.02, with a volume of 152518 shares. The stock had previously closed at $11.20.

ANGI has been the topic of a number of other reports. Citigroup decreased their price objective on Angi from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. StockNews.com downgraded Angi from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Royal Bank of Canada cut their price objective on shares of Angi from $27.50 to $17.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 15th. Finally, JMP Securities lowered their target price on shares of Angi from $30.00 to $27.50 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Angi has a consensus rating of “Hold” and an average price target of $27.08.

Institutional Investors Weigh In On Angi

Several large investors have recently added to or reduced their stakes in ANGI. Raymond James Financial Inc. bought a new stake in shares of Angi during the fourth quarter valued at approximately $27,000. Hsbc Holdings PLC bought a new stake in Angi during the 4th quarter valued at $30,000. Headlands Technologies LLC lifted its holdings in shares of Angi by 9,308.0% in the 4th quarter. Headlands Technologies LLC now owns 18,722 shares of the technology company’s stock worth $31,000 after buying an additional 18,523 shares during the period. Oxford Asset Management LLP bought a new position in shares of Angi during the 4th quarter worth $33,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Angi during the fourth quarter valued at $41,000. 12.84% of the stock is owned by hedge funds and other institutional investors.

Angi Price Performance

The firm has a fifty day moving average of $13.90 and a two-hundred day moving average of $17.24. The stock has a market capitalization of $753.36 million, a P/E ratio of 189.40 and a beta of 1.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.14 and a quick ratio of 2.05.

Angi (NASDAQ:ANGI) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.24. The firm had revenue of $245.91 million during the quarter, compared to analysts’ expectations of $239.73 million. Angi had a net margin of 3.04% and a return on equity of 3.41%. On average, analysts predict that Angi Inc. will post 0.08 EPS for the current year.

About Angi

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.