Bankrate (NYSE:RATE) Downgrade
RBC Capital gave Bankrate (NYSE:RATE) shares a new Sector Perform rating in a note sent to investors and clients on Thursday, 25 February. This is downgrade from the last Outperform rating. The financial company now has $9.00 target price per share on firm, suggesting 32.16% upside potential.
Out of 9 analysts covering Bankrate (NYSE:RATE), 6 rate it “Buy”, 1 “Sell”, while 2 “Hold”. This means 67% are positive. $20 is the highest target while $11 is the lowest. The $16 average target is 119.09% above today’s ($6.81) stock price. Bankrate was the topic in 10 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Needham maintained the stock on November 23 with “Buy” rating. Bank of America upgraded the shares of RATE in a report on November 9 to “Buy” rating. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in an August 5 report.
About 5.57 million shares traded hands or 646.72% up from the average. Bankrate Inc (NYSE:RATE) has risen 29.52% since July 21, 2015 and is uptrending. It has outperformed by 38.46% the S&P500.
Analysts await Bankrate Inc (NYSE:RATE) to reports earnings on June, 15. They expect $0.14 EPS, down 12.50% or $0.02 from last year’s $0.16 per share. RATE’s profit will be $14.26 million for 12.16 P/E if the $0.14 EPS becomes reality. After $0.13 actual EPS reported by Bankrate Inc for the previous quarter, Wall Street now forecasts 7.69% EPS growth.
The institutional sentiment increased to 1.41 in Q3 2015. Its up 0.41, from 1 in 2015Q2. The ratio improved, as 14 funds sold all Bankrate Inc shares owned while 30 reduced positions. 19 funds bought stakes while 43 increased positions. They now own 62.24 million shares or 11.70% more from 55.73 million shares in 2015Q2.
Pivot Point Capital Partners Llc holds 9.41% of its portfolio in Bankrate Inc for 2.02 million shares. Simcoe Capital Management Llc owns 766,688 shares or 5.24% of their US portfolio. Moreover, Raging Capital Management Llc has 4.08% invested in the company for 3.00 million shares. The Illinois-based Continental Advisors Llc has invested 2.29% in the stock. Harvest Capital Strategies Llc, a California-based fund reported 1.21 million shares.
Bankrate, Inc. is a publisher, aggregator and distributor of personal finance content on the Internet. The company has a market cap of $693.73 million. The Firm provides clients personal finance editorial content across multiple vertical categories, including mortgages, deposits, insurance, credit cards, senior care and other personal finance categories. It currently has negative earnings. It operates through divisions, including Banking, Credit Cards, Insurance and Other.
According to Zacks Investment Research, “Bankrate Inc. is an aggregator of financial rate information. It offers rate data and financial content. Its flagship Web site, Bankrate.com, provides free rate information to consumers on more than 300 financial products, including mortgages, credit cards, new and used automobile loans, money market accounts, certificates of deposit, ATM fees, home equity loans and online banking fees. In addition to rate data, the Company publishes original and objective personal finance stories to help consumers make financial decisions. Through its Online Network, which includes Bankrate.com, Interest.com, Nationwidecardservices.com, creditcardsearchengine.com, Insureme.com, Savingforcollege.com, Mortgage-calc.com, Feedisclosure.com, and Bankrate.com.cn, as well as co-branded web sites hosted by its network, it provides the tools and information of products and services that can help consumers make financial decisions. Bankrate Inc., formally known as ilife.com Inc., is headquartered in North Palm Beach, Florida.”
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