Trade Report: The Zacks Investment Research lowers the Stock rating of RetailMeNot Inc. (SALE)

The Zacks Investment Research lowers the Stock rating of RetailMeNot Inc. (SALE)

Zacks Investment Research lowered shares of RetailMeNot Inc. (NASDAQ:SALE) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “RetailMeNot, Inc. operates as a digital coupon marketplace that connects consumers with retailers and brands. It offers online deal information that enables users to purchase goods and services at a discount. The company’s portfolio of coupon and deal websites includes www.RetailMeNot.com, www.RetailMeNot.ca, www.VoucherCodes.co.uk, www.Deals.com, www.Actiepagina.nl, Bons-de-Reduction.com, www.ma-Reduc.com, www.Poulpeo.com and www.Deals2Buy.com. RetailMeNot, Inc. is headquartered in Austin, Texas. “

A number of other research analysts also recently commented on SALE. Jefferies Group reissued a buy rating on shares of RetailMeNot in a report on Monday, July 11th. TheStreet raised RetailMeNot from a sell rating to a hold rating in a report on Monday, July 18th. Wedbush set a $10.00 price target on RetailMeNot and gave the company a neutral rating in a report on Wednesday, August 3rd. Dougherty & Co started coverage on RetailMeNot in a report on Thursday, August 25th. They issued a buy rating and a $15.00 price target for the company. Finally, Morgan Stanley downgraded RetailMeNot from an equal weight rating to an underweight rating and reduced their price target for the company from $11.49 to $8.60 in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $12.46.

Shares of RetailMeNot (NASDAQ:SALE) opened at 9.80 on Wednesday. RetailMeNot has a 1-year low of $5.52 and a 1-year high of $12.93. The company has a 50 day moving average price of $10.50 and a 200-day moving average price of $8.92. The stock has a market capitalization of $477.02 million, a P/E ratio of 56.00 and a beta of 0.78.

RetailMeNot (NASDAQ:SALE) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm earned $64.20 million during the quarter, compared to the consensus estimate of $62.89 million. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. RetailMeNot’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts forecast that RetailMeNot will post $0.59 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SALE. Nine Chapters Capital Management LLC bought a new stake in shares of RetailMeNot during the second quarter worth $115,000. Guggenheim Capital LLC boosted its stake in shares of RetailMeNot by 4.3% in the second quarter. Guggenheim Capital LLC now owns 15,235 shares of the company’s stock worth $118,000 after buying an additional 630 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in shares of RetailMeNot by 2.2% in the first quarter. Boothbay Fund Management LLC now owns 15,912 shares of the company’s stock worth $127,000 after buying an additional 343 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of RetailMeNot by 14.9% in the second quarter. BlackRock Advisors LLC now owns 18,606 shares of the company’s stock worth $143,000 after buying an additional 2,416 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of RetailMeNot by 38.5% in the second quarter. Alliancebernstein L.P. now owns 20,160 shares of the company’s stock worth $155,000 after buying an additional 5,600 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors.

RetailMeNot Company Profile

RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.

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