Safeguard Scientifics, Inc. (NYSE:SFE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, November 2nd. The brokerage currently has a $16.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target indicates a potential upside of 24.03% from the stock’s previous close.
According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “
Several other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Safeguard Scientifics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Safeguard Scientifics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th.
Shares of Safeguard Scientifics (SFE) traded up $0.35 during mid-day trading on Thursday, hitting $12.90. 46,029 shares of the stock were exchanged, compared to its average volume of 62,542. Safeguard Scientifics has a 12 month low of $10.65 and a 12 month high of $14.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.
Safeguard Scientifics (NYSE:SFE) last issued its earnings results on Thursday, October 26th. The asset manager reported ($0.91) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.11) by $0.20. During the same quarter in the prior year, the company posted ($1.18) earnings per share. research analysts predict that Safeguard Scientifics will post -4.47 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC bought a new position in Safeguard Scientifics in the 3rd quarter valued at about $136,000. Granahan Investment Management Inc. MA increased its holdings in Safeguard Scientifics by 20.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 646,492 shares of the asset manager’s stock valued at $8,631,000 after buying an additional 111,370 shares during the period. Pinebridge Investments L.P. increased its holdings in Safeguard Scientifics by 147.5% in the 3rd quarter. Pinebridge Investments L.P. now owns 24,984 shares of the asset manager’s stock valued at $333,000 after buying an additional 14,890 shares during the period. Legal & General Group Plc increased its holdings in Safeguard Scientifics by 16.9% in the 3rd quarter. Legal & General Group Plc now owns 63,234 shares of the asset manager’s stock valued at $844,000 after buying an additional 9,157 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Safeguard Scientifics by 40.4% in the 3rd quarter. New York State Common Retirement Fund now owns 199,109 shares of the asset manager’s stock valued at $2,658,000 after buying an additional 57,295 shares during the period. 77.33% of the stock is currently owned by institutional investors and hedge funds.
About Safeguard Scientifics
Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.
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