Brokerages Set LendingTree, Inc. (NASDAQ:TREE) Price Target at $61.33

LendingTree, Inc. (NASDAQ:TREE) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $61.3333.

TREE has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods cut their price target on LendingTree from $70.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen upgraded LendingTree from a “hold” rating to a “buy” rating in a report on Saturday. Northland Securities set a $60.00 price target on LendingTree in a report on Thursday, July 30th. Finally, Needham & Company LLC lowered their price objective on LendingTree from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, July 30th.

LendingTree Trading Down 2.4%

TREE opened at $27.37 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $384.27 million, a PE ratio of 2.12 and a beta of 2.05. LendingTree has a 1-year low of $27.07 and a 1-year high of $77.35. The firm has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $39.37.

LendingTree (NASDAQ:TREE) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.73). LendingTree had a return on equity of 14.57% and a net margin of 14.33%.The company had revenue of $313.42 million for the quarter, compared to analyst estimates of $315.56 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. LendingTree’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, equities analysts anticipate that LendingTree will post 3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LendingTree

Several institutional investors have recently modified their holdings of TREE. Fifth Third Bancorp bought a new stake in shares of LendingTree during the fourth quarter worth approximately $32,000. OP Asset Management Ltd acquired a new position in LendingTree in the first quarter valued at approximately $34,000. New York State Teachers Retirement System bought a new position in LendingTree in the fourth quarter valued at approximately $54,000. McIlrath & Eck LLC bought a new position in LendingTree in the fourth quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC grew its holdings in LendingTree by 281.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 826 shares during the period. Institutional investors and hedge funds own 68.26% of the company’s stock.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.