The Goldman Sachs Group (NYSE:GS) Stock Rating Upgraded by Zacks Research

The Goldman Sachs Group (NYSE:GSGet Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on GS. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, January 16th. HSBC set a $604.00 price objective on The Goldman Sachs Group in a research note on Wednesday, January 7th. BNP Paribas Exane raised their target price on The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Royal Bank Of Canada lifted their price target on shares of The Goldman Sachs Group from $900.00 to $1,030.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Argus lifted their price objective on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the company a “buy” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $897.76.

Check Out Our Latest Research Report on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

NYSE GS opened at $942.50 on Monday. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.13 and a quick ratio of 0.65. The Goldman Sachs Group has a 1 year low of $439.38 and a 1 year high of $984.70. The stock has a market capitalization of $282.68 billion, a PE ratio of 18.38, a P/E/G ratio of 1.13 and a beta of 1.33. The company’s 50 day simple moving average is $874.51 and its two-hundred day simple moving average is $796.79.

The Goldman Sachs Group (NYSE:GSGet Free Report) last posted its earnings results on Thursday, January 15th. The investment management company reported $14.01 EPS for the quarter, topping the consensus estimate of $11.52 by $2.49. The business had revenue of $13.45 billion during the quarter, compared to analysts’ expectations of $14.30 billion. The Goldman Sachs Group had a return on equity of 15.19% and a net margin of 13.73%.The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $11.95 earnings per share. Analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 6,661,422 shares of the investment management company’s stock valued at $5,304,824,000 after buying an additional 121,676 shares during the period. Bank of New York Mellon Corp increased its position in The Goldman Sachs Group by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after acquiring an additional 157,473 shares during the last quarter. Norges Bank bought a new position in The Goldman Sachs Group in the second quarter valued at about $2,138,031,000. Invesco Ltd. boosted its position in The Goldman Sachs Group by 3.5% in the third quarter. Invesco Ltd. now owns 2,913,172 shares of the investment management company’s stock worth $2,319,905,000 after purchasing an additional 97,387 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of The Goldman Sachs Group by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 2,110,119 shares of the investment management company’s stock valued at $1,680,393,000 after purchasing an additional 28,642 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

About The Goldman Sachs Group

(Get Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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