Zacks Investment Research Downgrades Equifax (EFX) to Sell
Zacks Investment Research lowered shares of Equifax (NYSE:EFX) from a hold rating to a sell rating in a report issued on Thursday.
According to Zacks, “Equifax is bearing the brunt of higher costs as it has increased its spending on technology after the last year's cyber-attack. We believe that the incident will certainly have an adverse impact on the company’s financial performance in the near term. Seasonality affects Equifax’s revenue streams which causes considerable fluctuations in revenues and makes profit forecasting difficult. Notably, shares have underperformed the industry in a year’s time. Despite such negatives, Equifax’s offerings are of great importance to its customers as they use the creditinformation and related analytical services. Acquisitions act as a key growth strategy. Apart from acquisitions, Equifax has remained enthusiastic about forming joint ventures that could expand its business internationally.”
Several other equities analysts have also commented on EFX. Morgan Stanley set a $126.00 price target on shares of Equifax and gave the stock a hold rating in a research report on Monday, October 15th. Bank of America started coverage on shares of Equifax in a research report on Tuesday, October 23rd. They set an underperform rating and a $123.00 price target for the company. ValuEngine lowered shares of Equifax from a buy rating to a hold rating in a research report on Friday, October 26th. TheStreet lowered shares of Equifax from a b rating to a c rating in a research report on Wednesday, October 24th. Finally, Barclays dropped their price target on shares of Equifax from $120.00 to $105.00 and set an equal weight rating for the company in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Equifax has an average rating of Hold and a consensus price target of $119.90.
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Equifax in the fourth quarter worth $34,000. Exane Asset Management acquired a new stake in Equifax during the 4th quarter valued at $41,000. Doyle Wealth Management acquired a new stake in Equifax during the 4th quarter valued at $53,000. Rational Advisors LLC grew its holdings in Equifax by 1,172.7% during the 4th quarter. Rational Advisors LLC now owns 700 shares of the credit services provider’s stock valued at $65,000 after purchasing an additional 645 shares in the last quarter. Finally, Ropes Wealth Advisors LLC acquired a new stake in Equifax during the 4th quarter valued at $70,000. 91.34% of the stock is owned by institutional investors.
Equifax Company Profile
Equifax Inc provides information solutions and human resources business process outsourcing services for businesses, governments, and consumers. The company operates through four segments: U.S. Information Solutions (USIS), International, Workforce Solutions, and Global Consumer Solutions. The USIS segment offers consumer and commercial information services, such as credit information and credit scoring, credit modeling and portfolio analytics, locate, fraud detection and prevention, identity verification, and other consulting; mortgage loan origination information; financial marketing; and identity management services.
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