Bankrate Inc. (NYSE:RATE)‘s stock had its “hold” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a report issued on Tuesday. They presently have a $9.00 target price on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 8.43% from the stock’s current price.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Bankrate from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Bankrate in a research note on Tuesday, July 19th. Loop Capital initiated coverage on Bankrate in a research note on Wednesday, August 10th. They issued a “hold” rating and a $9.00 price objective on the stock. Finally, Compass Point initiated coverage on Bankrate in a research note on Thursday, June 2nd. They issued a “neutral” rating and a $9.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.85.
Bankrate (NYSE:RATE) opened at 8.30 on Tuesday. The company’s market cap is $738.43 million. Bankrate has a 52 week low of $6.59 and a 52 week high of $15.80. The firm has a 50-day moving average price of $7.93 and a 200-day moving average price of $8.37.
Bankrate (NYSE:RATE) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Bankrate had a positive return on equity of 7.93% and a negative net margin of 13.93%. The firm had revenue of $98.30 million for the quarter, compared to the consensus estimate of $96.08 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Bankrate will post $0.54 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Elk Creek Partners LLC boosted its stake in shares of Bankrate by 35.8% in the second quarter. Elk Creek Partners LLC now owns 1,218,460 shares of the company’s stock valued at $9,114,000 after buying an additional 321,145 shares during the period. Numeric Investors LLC acquired a new stake in Bankrate during the second quarter worth $1,166,000. AHL Partners LLP acquired a new stake in Bankrate during the second quarter worth $156,000. Highbridge Capital Management LLC acquired a new stake in Bankrate during the second quarter worth $1,010,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Bankrate by 239.7% in the second quarter. Cubist Systematic Strategies LLC now owns 42,020 shares of the company’s stock worth $314,000 after buying an additional 29,652 shares during the last quarter. 47.63% of the stock is currently owned by institutional investors and hedge funds.
Bankrate, Inc (Bankrate) is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers personal finance editorial content across multiple vertical categories, including mortgages, deposits, credit cards, senior care and other personal finance categories.
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