Credit Suisse Group Cuts Finance Of America Companies (NYSE:FOA) Price Target to $7.00
Finance Of America Companies (NYSE:FOA – Get Rating) had its price target cut by Credit Suisse Group from $9.00 to $7.00 in a research report released on Wednesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.
FOA has been the subject of a number of other reports. Morgan Stanley decreased their price objective on shares of Finance Of America Companies from $4.00 to $3.75 and set an equal weight rating for the company in a report on Friday, March 4th. Zacks Investment Research downgraded shares of Finance Of America Companies from a hold rating to a strong sell rating in a research report on Friday, March 11th. Finally, Raymond James cut their target price on shares of Finance Of America Companies from $10.50 to $8.50 and set a strong-buy rating for the company in a research report on Monday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $5.80.
Shares of NYSE FOA opened at $3.05 on Wednesday. Finance Of America Companies has a twelve month low of $2.86 and a twelve month high of $11.66. The company has a 50 day moving average of $3.40 and a 200 day moving average of $4.28. The company has a debt-to-equity ratio of 9.62, a quick ratio of 2.02 and a current ratio of 2.02.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Finance Of America Companies by 4.9% during the 3rd quarter. BlackRock Inc. now owns 1,830,760 shares of the company’s stock valued at $9,062,000 after acquiring an additional 86,128 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Finance Of America Companies in the 4th quarter worth $4,476,000. State Street Corp boosted its holdings in Finance Of America Companies by 3.3% in the 4th quarter. State Street Corp now owns 470,679 shares of the company’s stock worth $1,869,000 after buying an additional 15,221 shares during the period. Geode Capital Management LLC boosted its holdings in Finance Of America Companies by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 441,313 shares of the company’s stock worth $2,184,000 after buying an additional 26,830 shares during the period. Finally, Millennium Management LLC bought a new position in Finance Of America Companies in the 4th quarter worth $1,382,000.
Finance Of America Companies Company Profile (Get Rating)
Finance of America Companies Inc operates a consumer lending platform in the United States. The company provides residential mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels. It also offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management services to optimize distribution to investors.
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