Stagwell (NASDAQ:STGW) Given New $13.00 Price Target at Rosenblatt Securities

Stagwell (NASDAQ:STGW) had its target price upped by Rosenblatt Securities from $10.00 to $13.00 in a report released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC increased their price target on Stagwell from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings upgraded Stagwell from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. B. Riley Financial restated a “buy” rating and issued a $12.00 price objective (up from $10.00) on shares of Stagwell in a research report on Friday. The Goldman Sachs Group started coverage on Stagwell in a research note on Monday, October 5th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Wall Street Zen cut Stagwell from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Stagwell presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Stagwell Stock Performance

Shares of NASDAQ:STGW opened at $10.47 on Friday. The stock has a 50 day moving average of $8.72 and a 200 day moving average of $7.17. The company has a market cap of $2.56 billion, a PE ratio of 261.82 and a beta of 1.23. Stagwell has a 12-month low of $4.28 and a 12-month high of $10.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.99.

Stagwell (NASDAQ:STGW) last released its earnings results on Thursday, October 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Stagwell had a net margin of 0.31% and a return on equity of 29.37%. The company had revenue of $816.03 million for the quarter, compared to analysts’ expectations of $838.38 million. During the same quarter last year, the business earned $0.24 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Stagwell will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Stagwell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Stagwell in the 2nd quarter valued at about $52,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Stagwell during the third quarter valued at approximately $87,000. Tidal Investments LLC bought a new position in shares of Stagwell during the second quarter valued at approximately $117,000. Headlands Technologies LLC purchased a new position in Stagwell during the second quarter valued at approximately $141,000. Finally, Pictet Asset Management Holding SA increased its holdings in Stagwell by 34.7% during the first quarter. Pictet Asset Management Holding SA now owns 20,014 shares of the company’s stock valued at $126,000 after buying an additional 5,155 shares during the period. Institutional investors own 35.61% of the company’s stock.

About Stagwell

Stagwell Inc is a global marketing and communications services company that helps brands, organizations and institutions develop strategies, engage audiences and manage their reputations. Its services include advertising, media, public relations, digital marketing, consumer insights, creative development and marketing technology.

The company operates through a network of agencies and specialized businesses serving clients across North America, Europe, Asia-Pacific and other international markets.