Knight Capital Group (NYSE:KCG) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Monday, TheFlyOnTheWall.com reports. The firm currently has a $13.00 price objective on the stock. Raymond James’ price target would suggest a potential upside of 22.07% from the stock’s previous close.
The analysts wrote, “We are upgrading shares of KCG Holdings to Outperform from Market Perform and establishing a target price of $13. After hosting an investor dinner with KCG management last week we are more confident that legacy Getco business has stabilized in recent quarters. In addition, we are encouraged by updated cost synergy guidance that provides more certainty around improved earnings over the next several quarters.”
KCG has been the subject of a number of other recent research reports. Analysts at Sandler O’Neill raised their price target on shares of Knight Capital Group from $9.00 to $10.25 in a research note to investors on Wednesday, November 13th. They now have a “hold” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Knight Capital Group from $8.50 to $9.50 in a research note to investors on Wednesday, October 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Compass Point initiated coverage on shares of Knight Capital Group in a research note to investors on Friday, September 6th. They set a “buy” rating and a $11.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Knight Capital Group currently has a consensus rating of “Hold” and a consensus target price of $10.29.
Knight Capital Group (NYSE:KCG) traded up 7.51% on Monday, hitting $11.45. The stock had a trading volume of 520,594 shares. Knight Capital Group has a one year low of $8.11 and a one year high of $12.14. The stock’s 50-day moving average is $9.19 and its 200-day moving average is $9.14. The company has a market cap of $1.307 billion and a P/E ratio of 75.00.
Knight Capital Group (NYSE:KCG) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.81. The company had revenue of $339.80 million for the quarter, compared to the consensus estimate of $130.60 million. During the same quarter in the prior year, the company posted ($6.30) earnings per share. The company’s quarterly revenue was up 160.2% on a year-over-year basis. On average, analysts predict that Knight Capital Group will post $0.34 earnings per share for the current fiscal year.
KCG Holdings, Inc is a holding company. The Company is an independent securities company offering investors a range of services designed to address trading needs across asset classes, product types and time zones.
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