Lendingtree (TREE) Downgraded by Zacks Investment Research
Lendingtree (NASDAQ:TREE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “LendingTree is the nation’s leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 55 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 350 lenders offering home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. “
Other equities analysts have also recently issued research reports about the company. Needham & Company LLC upped their price target on Lendingtree from $300.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Oppenheimer upped their price target on Lendingtree to $340.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Stephens restated an “overweight” rating and issued a $375.00 price target (up previously from $300.00) on shares of Lendingtree in a report on Monday, December 18th. Northland Securities restated a “buy” rating and issued a $280.00 price target on shares of Lendingtree in a report on Thursday, October 26th. Finally, BidaskClub upgraded Lendingtree from a “buy” rating to a “strong-buy” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $278.08.
Lendingtree (TREE) opened at $343.70 on Wednesday. The firm has a market capitalization of $4,092.73, a P/E ratio of 150.75, a price-to-earnings-growth ratio of 3.03 and a beta of 1.54. Lendingtree has a fifty-two week low of $96.20 and a fifty-two week high of $355.80. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.86 and a quick ratio of 3.86.
Lendingtree (NASDAQ:TREE) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.20. The firm had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $157.97 million. Lendingtree had a return on equity of 16.52% and a net margin of 5.49%. Lendingtree’s quarterly revenue was up 81.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. equities analysts forecast that Lendingtree will post 3.06 earnings per share for the current year.
In other news, CEO Douglas R. Lebda sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $258.68, for a total transaction of $1,034,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas R. Lebda sold 8,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $331.10, for a total value of $2,648,800.00. Following the transaction, the chief executive officer now owns 389,318 shares of the company’s stock, valued at $128,903,189.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,374 shares of company stock valued at $32,273,966. Company insiders own 21.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TREE. Invictus RG bought a new position in Lendingtree during the third quarter worth $104,000. Advisor Group Inc. lifted its stake in Lendingtree by 61.7% during the third quarter. Advisor Group Inc. now owns 527 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 201 shares during the last quarter. SG Americas Securities LLC bought a new position in Lendingtree during the second quarter worth $148,000. Aperio Group LLC bought a new position in Lendingtree during the third quarter worth $201,000. Finally, Seven Eight Capital LP bought a new position in Lendingtree during the second quarter worth $207,000. Hedge funds and other institutional investors own 71.68% of the company’s stock.
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Lendingtree Company Profile
LendingTree, Inc (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings.
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