Stagwell (NASDAQ:STGW) Price Target Raised to $13.00

Stagwell (NASDAQ:STGW) had its price objective upped by Rosenblatt Securities from $10.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings raised shares of Stagwell from a “hold (c-)” rating to a “hold (c)” rating in a research note 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 note on Friday. Wells Fargo & Company increased their price objective on Stagwell from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC lifted their price objective on Stagwell from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group assumed coverage on Stagwell in a research note on Monday, October 5th. They issued a “buy” rating and a $13.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.67.

Stagwell Price Performance

STGW stock opened at $10.47 on Friday. The firm has a 50-day moving average of $8.72 and a two-hundred day moving average of $7.17. The firm has a market capitalization of $2.56 billion, a PE ratio of 261.82 and a beta of 1.23. 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 has a one year low of $4.28 and a one year high of $10.61.

Stagwell (NASDAQ:STGW) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $816.03 million during the quarter, compared to the consensus estimate of $838.38 million. Stagwell had a net margin of 0.31% and a return on equity of 29.37%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, analysts forecast that Stagwell will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Stagwell

Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Stagwell by 5.1% during the third quarter. State of Alaska Department of Revenue now owns 34,753 shares of the company’s stock worth $282,000 after purchasing an additional 1,693 shares during the period. Pictet Asset Management Holding SA increased its position in Stagwell by 34.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 20,014 shares of the company’s stock worth $126,000 after buying an additional 5,155 shares during the period. Integrated Wealth Concepts LLC bought a new position in Stagwell during the 2nd quarter worth $52,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Stagwell in the 3rd quarter worth about $87,000. Finally, Tidal Investments LLC acquired a new stake in shares of Stagwell in the second quarter valued at approximately $117,000. 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.