Realogy (NYSE:RLGY) Shares Gap Down Following Analyst Downgrade

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Realogy Holdings Corp (NYSE:RLGY) gapped down before the market opened on Friday after Barclays lowered their price target on the stock from $9.00 to $5.00. The stock had previously closed at $5.84, but opened at $5.74. Barclays currently has an underweight rating on the stock. Realogy shares last traded at $5.47, with a volume of 142,928 shares.

RLGY has been the subject of a number of other reports. Compass Point upgraded Realogy from a “sell” rating to a “neutral” rating in a research report on Monday, July 8th. Stephens upgraded Redfin from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $23.00 in a report on Monday, June 10th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Realogy has a consensus rating of “Hold” and an average target price of $12.00.

In other news, CEO Ryan M. Schneider purchased 119,300 shares of Realogy stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $8.38 per share, for a total transaction of $999,734.00. Following the acquisition, the chief executive officer now directly owns 352,761 shares in the company, valued at $2,956,137.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Hancock Whitney Corp acquired a new stake in Realogy in the 4th quarter worth approximately $407,000. Gotham Asset Management LLC acquired a new stake in Realogy in the 4th quarter worth approximately $678,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Realogy in the 1st quarter worth approximately $25,000. Skylands Capital LLC lifted its holdings in Realogy by 341.1% in the 1st quarter. Skylands Capital LLC now owns 215,050 shares of the financial services provider’s stock worth $2,452,000 after purchasing an additional 166,300 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Realogy by 4,908.2% in the 1st quarter. Meeder Asset Management Inc. now owns 41,318 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 40,493 shares during the last quarter.

The business has a fifty day moving average of $6.98. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.83. The company has a market cap of $655.58 million, a PE ratio of 3.73 and a beta of 1.71.

Realogy (NYSE:RLGY) last posted its earnings results on Thursday, May 2nd. The financial services provider reported ($0.67) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.67). Realogy had a return on equity of 6.82% and a net margin of 1.76%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($0.38) EPS. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Research analysts forecast that Realogy Holdings Corp will post 1.05 EPS for the current year.

About Realogy (NYSE:RLGY)

Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.

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