Boston, MA 10/08/2014 (wallstreetpr) – Walter Investment Management Corp (NYSE:WAC) reached a 52-week low during yesterday’s trading, when the stock traded at as low as $21.26.
According to an article that highlighted American Banking and Market News report, on Tuesday, the stock traded at lows of $21.20. It last traded at slightly more than this value ($21.26) with a volume of as much as 205,455 shares changing hands. Earlier to this, WAC stock had closed at $21.59, the article reported.
Analysts’ Take
As of now, several research firms are following Walter Investment Management Corp (NYSE:WAC) stock. According to a research note issued by Barclays analysts on Sept 11, the stock was rated as “underweight.” It was set at a target price of $22.00. Apart from this, analysts working with Zacks downgraded the company’s shares to “underperform.” Their initial rating on WAC was set at “neutral”, and the new rating was issued on August 18. As of now, the stock has been set at a target price of $24.20. Another set of analysts at Compass Point decreased their price target on WAC shares to $18.00. The new target price was updated in a research note that was issued on Aug 18. The initial price target then was $23.00. In addition, five other equity research analysts have allocated a “sell” rating to the stock and three have assigned the stock a “hold” rating. Apart from this, one analyst has issued a “buy” rating to it. WAC currently has a consensus rating of “hold” with an average price target of $26.46.
WAC stock’s 50-day moving average presently is $24.32 while its 200-day moving average has been recorded to be $27.25. The market cap of the company is $795.6 million and reports a price-to-earnings ratio of 9.52.
Walter Investment Management Corp (NYSE:WAC) had reported its financial results for the quarter on Aug 11, and it is expected that its earnings per share for this year will be around $5.39.
