Financial Engines, Inc. (FNGN) Receives Buy Rating from DA Davidson

Financial Engines, Inc. (NASDAQ:FNGN)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Monday, November 6th. They currently have a $38.00 target price on the asset manager’s stock. DA Davidson’s target price would indicate a potential upside of 40.74% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Financial Engines in a report on Friday, November 3rd. William Blair downgraded shares of Financial Engines from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Financial Engines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Wednesday, July 12th. Barclays PLC assumed coverage on shares of Financial Engines in a research note on Friday, September 8th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Sidoti assumed coverage on shares of Financial Engines in a research note on Monday, July 10th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.50.

Financial Engines (NASDAQ FNGN) opened at $27.00 on Monday. The firm has a market cap of $1,710.00, a P/E ratio of 28.74, a PEG ratio of 1.76 and a beta of 2.24. Financial Engines has a 1-year low of $24.45 and a 1-year high of $45.75.

Financial Engines (NASDAQ:FNGN) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. equities research analysts expect that Financial Engines will post 1.03 earnings per share for the current fiscal year.

Financial Engines declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, insider Jeffrey C. Grace sold 6,180 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $37.00, for a total transaction of $228,660.00. Following the completion of the sale, the insider now owns 9,414 shares of the company’s stock, valued at approximately $348,318. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Jerome Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $32.05, for a total transaction of $64,100.00. Following the sale, the executive vice president now directly owns 41,020 shares of the company’s stock, valued at approximately $1,314,691. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,634 shares of company stock valued at $1,464,833. 9.27% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its position in Financial Engines by 58.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,195 shares of the asset manager’s stock valued at $1,359,000 after purchasing an additional 11,476 shares during the period. Janus Henderson Group PLC acquired a new stake in Financial Engines in the 2nd quarter valued at $106,955,000. State Street Corp grew its position in Financial Engines by 8.6% in the 2nd quarter. State Street Corp now owns 1,441,265 shares of the asset manager’s stock valued at $52,751,000 after purchasing an additional 114,580 shares during the period. Goldman Sachs Group Inc. grew its position in Financial Engines by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 128,617 shares of the asset manager’s stock valued at $5,601,000 after purchasing an additional 31,791 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Financial Engines by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,221,858 shares of the asset manager’s stock valued at $191,120,000 after acquiring an additional 261,539 shares in the last quarter.

ILLEGAL ACTIVITY NOTICE: “Financial Engines, Inc. (FNGN) Receives Buy Rating from DA Davidson” was published by BBNS and is owned by of BBNS. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://baseballnewssource.com/markets/financial-engines-fngn-buy-rating-reiterated-at-da-davidson/1762652.html.

Financial Engines Company Profile

Financial Engines, Inc is a provider of independent, technology-enabled financial advisory services, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance. The Company offers personalized plans for saving, investing, and generating retirement income, as well as by providing assessments of retirement income needs and readiness.

Analyst Recommendations for Financial Engines (NASDAQ:FNGN)

Receive News & Ratings for Financial Engines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Engines Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot


Leave a Reply

 
© 2006-2017 BBNS.