People Incorporated Common Stock (NASDAQ:PPLI) Given New $56.00 Price Target at UBS Group

People Incorporated Common Stock (NASDAQ:PPLI) had its price target upped by equities researchers at UBS Group from $49.00 to $56.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 26.13% from the stock’s previous close.

Several other brokerages have also recently commented on PPLI. Wall Street Zen upgraded shares of People Incorporated Common Stock from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. KeyCorp raised their price objective on People Incorporated Common Stock from $41.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Piper Sandler set a $52.00 target price on People Incorporated Common Stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on People Incorporated Common Stock from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Citizens Jmp lifted their price target on shares of People Incorporated Common Stock from $47.00 to $54.00 and gave the company a “market outperform” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.57.

People Incorporated Common Stock Stock Performance

Shares of NASDAQ PPLI traded down $2.03 during trading hours on Wednesday, reaching $44.40. 939,892 shares of the stock were exchanged, compared to its average volume of 1,092,854. The stock’s fifty day simple moving average is $43.93 and its 200 day simple moving average is $41.05. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 120.00 and a beta of 1.04. People Incorporated Common Stock has a 52 week low of $29.56 and a 52 week high of $48.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.69 and a current ratio of 3.69.

People Incorporated Common Stock (NASDAQ:PPLI) last released its quarterly earnings results on Monday, August 3rd. The company reported $6.68 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $7.08. People Incorporated Common Stock had a net margin of 16.05% and a return on equity of 8.66%. The business had revenue of $436.74 million for the quarter, compared to analyst estimates of $433.77 million. During the same period last year, the firm earned $2.57 earnings per share. People Incorporated Common Stock’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts predict that People Incorporated Common Stock will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PPLI. Essential Partners LLC boosted its position in shares of People Incorporated Common Stock by 177.1% during the 1st quarter. Essential Partners LLC now owns 1,607 shares of the company’s stock valued at $64,000 after purchasing an additional 1,027 shares in the last quarter. Amundi grew its stake in People Incorporated Common Stock by 397.4% during the first quarter. Amundi now owns 152,304 shares of the company’s stock worth $6,097,000 after purchasing an additional 121,681 shares during the period. EverSource Wealth Advisors LLC increased its holdings in People Incorporated Common Stock by 242.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,607 shares of the company’s stock worth $64,000 after purchasing an additional 1,138 shares in the last quarter. California State Teachers Retirement System increased its holdings in People Incorporated Common Stock by 28.7% in the first quarter. California State Teachers Retirement System now owns 83,176 shares of the company’s stock worth $3,330,000 after purchasing an additional 18,551 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in People Incorporated Common Stock by 5.9% in the first quarter. Royal Bank of Canada now owns 458,414 shares of the company’s stock valued at $18,350,000 after buying an additional 25,423 shares during the period. 88.90% of the stock is owned by institutional investors.

About People Incorporated Common Stock

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.