Mastercard (NYSE:MA) had its price objective raised by stock analysts at Loop Capital to $193.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “positive” rating on the credit services provider’s stock. Loop Capital’s target price suggests a potential upside of 13.16% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other brokerages also recently weighed in on MA. KeyCorp restated a “buy” rating and set a $165.00 target price on shares of Mastercard in a report on Wednesday, October 18th. Royal Bank of Canada downgraded shares of Mastercard from a “top pick” rating to an “outperform” rating and set a $130.00 price objective on the stock. in a report on Thursday, January 4th. Guggenheim reiterated a “buy” rating and issued a $201.00 price objective on shares of Mastercard in a report on Friday. BMO Capital Markets reiterated an “outperform” rating and issued a $174.00 price objective (up from $157.00) on shares of Mastercard in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $161.00 price objective on shares of Mastercard in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $176.54.
Shares of Mastercard (MA) traded down $2.38 on Friday, reaching $170.55. 6,485,938 shares of the company were exchanged, compared to its average volume of 3,050,000. The firm has a market capitalization of $180,560.00, a P/E ratio of 46.73, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. Mastercard has a fifty-two week low of $105.60 and a fifty-two week high of $177.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.66 and a current ratio of 1.57.
Mastercard declared that its board has approved a stock buyback plan on Monday, December 4th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total value of $2,606,122.27. Following the transaction, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MA. Boston Partners bought a new stake in Mastercard during the second quarter worth about $203,000. National Planning Corp lifted its position in Mastercard by 7.7% during the second quarter. National Planning Corp now owns 8,164 shares of the credit services provider’s stock worth $986,000 after purchasing an additional 583 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Mastercard during the second quarter worth about $121,000. Patton Albertson Miller Group LLC lifted its position in Mastercard by 15.1% during the second quarter. Patton Albertson Miller Group LLC now owns 9,688 shares of the credit services provider’s stock worth $1,254,000 after purchasing an additional 1,272 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Mastercard by 5.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 511,709 shares of the credit services provider’s stock worth $62,595,000 after purchasing an additional 26,211 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.
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.
