Rentrak (RENT) Coverage Begins as Buy at Collins Stewart

Rentrak (RENT) has been initiated today with coverage from the research analysts at Collins Stewart.  Stewart begins this new coverage of Rentrak with an initial price target set at $34, and rates performance of ‘RENT’ as “buy.”  Stewart notes Renrak is situated to benefit from the ever-evolving television industry.  Additionally, the firm notes that Rentrak is increasing its customer base and likewise, market share.  Lastly, Stewart believes that Rentrak may be a potential buyout candidate.  RENT is up during intraday trading and reached the 50-day moving average before falling into the daily range.

Rentrak is slated to release their next earnings report on  and is estimated to post negative EPS of 9 cents.  Their last earnings report was released on February 8th, 2011 and announced EPS of 6 cents with revenue totaling $23.7 million which was up 2.6 % year to year.  RENT is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Rentrak (RENT) is an industry-advancing media measurement and research company, providing content measurement, analytical services and unique insight to the most recognizable names in the entertainment industry.  The company has market capitalization of $248,000,000 and 11,058,000 shares outstanding.  RENT has a 52-week high of $31.04 with the low being $19.04 dollars.

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