Zacks Investment Research Downgrades Angi (NASDAQ:ANGI) to Sell

Zacks Investment Research lowered shares of Angi (NASDAQ:ANGI) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Angi Inc. offer repairing and remodeling to cleaning and landscaping. The company category-transforming products through brands such as HomeAdvisor(R), Angie’s List(R), Handy and Fixd Repair, HomeStars, MyHammer, MyBuilder, Instapro, Travaux and Werkspot. Angi Inc., formerly known as ANGI Homeservices Inc., is headquartered in Denver, Colorado. “

Other research analysts have also issued reports about the stock. Wells Fargo & Company increased their price target on shares of Angi from $14.00 to $16.00 and gave the stock an overweight rating in a research note on Thursday, October 14th. Credit Suisse Group decreased their price target on shares of Angi from $18.00 to $16.00 and set an outperform rating for the company in a research note on Monday, November 8th. Piper Sandler decreased their price target on shares of Angi from $13.00 to $12.00 and set a neutral rating for the company in a research note on Monday, November 8th. Finally, KeyCorp decreased their price target on shares of Angi from $18.00 to $16.00 and set an overweight rating for the company in a research note on Thursday, November 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $15.18.

Shares of NASDAQ ANGI opened at $8.21 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.42. Angi has a 12 month low of $7.86 and a 12 month high of $19.17. The firm has a market capitalization of $4.12 billion, a PE ratio of -68.42 and a beta of 1.70. The firm has a fifty day simple moving average of $9.51 and a two-hundred day simple moving average of $11.00.

Angi (NASDAQ:ANGI) last issued its quarterly earnings data on Thursday, November 4th. The technology company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The business had revenue of $461.60 million during the quarter, compared to analyst estimates of $450.16 million. Angi had a negative net margin of 3.67% and a negative return on equity of 4.89%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. On average, sell-side analysts predict that Angi will post -0.15 earnings per share for the current year.

In other Angi news, Director Bowman Angela R. Hicks sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $9.09, for a total transaction of $90,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ANGI. Teacher Retirement System of Texas purchased a new stake in shares of Angi during the 3rd quarter valued at about $132,000. Sigma Planning Corp purchased a new stake in shares of Angi during the 2nd quarter valued at about $148,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Angi during the 2nd quarter valued at about $150,000. Advisor Group Holdings Inc. boosted its holdings in shares of Angi by 292.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 11,744 shares of the technology company’s stock valued at $159,000 after acquiring an additional 8,753 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Angi by 5.7% during the 3rd quarter. Arizona State Retirement System now owns 19,089 shares of the technology company’s stock valued at $236,000 after acquiring an additional 1,022 shares during the last quarter. 13.51% of the stock is currently owned by hedge funds and other institutional investors.

Angi Company Profile

Angi, Inc is a holding company, which engages in the provision of digital marketplace for home services. It operates through the North America and Europe segments. It offers consumer services and professional services. The North America segment includes the operations HomeAdvisor, Angie’s List, Handy, mHelpDesk, HomeStars and Fixd Repair.

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