Mastercard (NYSE:MA) had its target price upped by KeyCorp from $170.00 to $195.00 in a research note issued to investors on Friday. The firm presently has an “overweight” rating on the credit services provider’s stock. KeyCorp’s target price points to a potential upside of 13.50% from the company’s previous close.
Several other brokerages also recently commented on MA. Vetr raised shares of Mastercard from a “sell” rating to a “hold” rating and set a $158.70 target price for the company in a research note on Thursday, January 11th. Sandler O’Neill raised shares of Mastercard from a “sell” rating to a “hold” rating in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $201.00 target price on shares of Mastercard in a research note on Friday. Loop Capital upped their target price on shares of Mastercard to $193.00 and gave the company a “positive” rating in a research note on Friday. They noted that the move was a valuation call. Finally, Argus raised shares of Mastercard from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $170.86.
Shares of Mastercard (MA) opened at $171.80 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $183,070.00, a P/E ratio of 47.38, a P/E/G ratio of 1.82 and a beta of 1.26. Mastercard has a 12 month low of $105.60 and a 12 month high of $176.71.
Mastercard announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the completion of the sale, the insider now owns 47,901 shares of the company’s stock, valued at $7,271,850.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MA. Massey Quick Simon & CO. LLC acquired a new position in Mastercard during the third quarter worth $102,000. Thompson Davis & CO. Inc. boosted its holdings in Mastercard by 170.1% during the second quarter. Thompson Davis & CO. Inc. now owns 867 shares of the credit services provider’s stock worth $105,000 after purchasing an additional 546 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Mastercard in the third quarter valued at $106,000. Proficio Capital Partners LLC lifted its stake in Mastercard by 1.3% in the second quarter. Proficio Capital Partners LLC now owns 905 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 12 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Mastercard in the second quarter valued at $121,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Mastercard (MA) Price Target Increased to $195.00 by Analysts at KeyCorp” was posted by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/02/mastercard-ma-price-target-increased-to-195-00-by-analysts-at-keycorp.html.
About Mastercard
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
