Zacks Investment Research Lowers ANGI Homeservices (NASDAQ:ANGI) to Sell

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Zacks Investment Research lowered shares of ANGI Homeservices (NASDAQ:ANGI) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “ANGI Homeservices Inc. provides digital marketplace for home services. The Company’s brand portfolio includes HomeAdvisor(R), Angie’sList, mHelpDesk, HomeStars, Travaux.com, MyHammer, MyBuilder, Werkspot and Instapro. It operates primarily in Canada, France, Germany, UK, Netherlands and Italy. ANGI Homeservices Inc., formerly known as Angie’s List Inc., is headquartered in Golden, Colo. “

Other equities analysts have also recently issued research reports about the stock. SunTrust Banks restated a buy rating and set a $20.00 target price on shares of ANGI Homeservices in a research note on Wednesday, May 22nd. Wedbush cut shares of ANGI Homeservices from an outperform rating to a neutral rating and lowered their price objective for the stock from $22.00 to $10.00 in a research note on Friday, August 9th. TheStreet cut shares of ANGI Homeservices from a c- rating to a d+ rating in a research note on Monday, June 3rd. Evercore ISI reiterated a hold rating and issued a $11.00 price objective on shares of ANGI Homeservices in a research note on Monday. Finally, BidaskClub cut shares of ANGI Homeservices from a hold rating to a sell rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $19.38.

ANGI opened at $8.37 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.21. The stock has a market capitalization of $4.54 billion, a P/E ratio of 59.80, a P/E/G ratio of 2.66 and a beta of 1.94. The company’s 50-day simple moving average is $12.67 and its two-hundred day simple moving average is $15.04. ANGI Homeservices has a 52-week low of $8.14 and a 52-week high of $23.95.

ANGI Homeservices (NASDAQ:ANGI) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The company had revenue of $343.90 million for the quarter, compared to the consensus estimate of $351.19 million. ANGI Homeservices had a net margin of 6.53% and a return on equity of 6.42%. ANGI Homeservices’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Research analysts forecast that ANGI Homeservices will post 0.14 EPS for the current fiscal year.

In related news, COO Craig M. Smith sold 3,823 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $13.02, for a total value of $49,775.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William B. Ridenour sold 10,878 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $14.32, for a total transaction of $155,772.96. The disclosure for this sale can be found here. Insiders sold a total of 1,078,166 shares of company stock worth $14,966,979 in the last quarter. Company insiders own 13.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ANGI. Echo Street Capital Management LLC increased its holdings in ANGI Homeservices by 999.1% in the 2nd quarter. Echo Street Capital Management LLC now owns 1,650,926 shares of the technology company’s stock worth $21,479,000 after acquiring an additional 1,500,720 shares in the last quarter. SQN Investors LP increased its holdings in ANGI Homeservices by 37.3% in the 1st quarter. SQN Investors LP now owns 4,886,483 shares of the technology company’s stock worth $75,447,000 after acquiring an additional 1,327,312 shares in the last quarter. ShawSpring Partners LLC purchased a new stake in ANGI Homeservices in the 2nd quarter worth approximately $16,320,000. Renaissance Technologies LLC increased its holdings in ANGI Homeservices by 71.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,334,500 shares of the technology company’s stock worth $30,372,000 after acquiring an additional 976,000 shares in the last quarter. Finally, Incline Global Management LLC purchased a new stake in ANGI Homeservices in the 2nd quarter worth approximately $10,446,000. 14.28% of the stock is owned by institutional investors.

ANGI Homeservices Company Profile

ANGI Homeservices Inc operates a digital marketplace for home services, connecting millions of homeowners with home service professionals in North America and Europe. Its HomeAdvisor digital marketplace service connects consumers with service professionals for home repair, maintenance, and improvement projects, as well as provides consumers with tools and resources to help them find local, pre-screened, and customer-rated service professionals.

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