Rosenblatt Securities Reiterates Buy Rating for Emerald (NYSE:EEX)

Emerald (NYSE:EEX)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $7.70 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 54.77% from the company’s previous close.

A number of other research firms also recently commented on EEX. Weiss Ratings restated a “sell (d)” rating on shares of Emerald in a research note on Monday. Wall Street Zen lowered Emerald from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Emerald currently has a consensus rating of “Hold” and a consensus price target of $7.70.

Emerald Price Performance

NYSE EEX opened at $4.98 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.35. Emerald has a 12-month low of $3.21 and a 12-month high of $5.45. The company has a market capitalization of $984.10 million, a PE ratio of 165.89 and a beta of 0.77. The firm’s 50 day moving average is $4.16 and its 200-day moving average is $4.69.

Emerald (NYSE:EEX) last announced its earnings results on Friday, October 31st. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $77.50 million for the quarter, compared to analyst estimates of $76.80 million. Emerald had a return on equity of 1.20% and a net margin of 1.05%.

Institutional Investors Weigh In On Emerald

Several hedge funds have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Emerald during the first quarter worth approximately $78,000. Hsbc Holdings PLC boosted its stake in shares of Emerald by 12.3% during the 1st quarter. Hsbc Holdings PLC now owns 39,818 shares of the company’s stock worth $153,000 after acquiring an additional 4,351 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Emerald by 24.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 675,356 shares of the company’s stock worth $2,654,000 after acquiring an additional 131,200 shares during the last quarter. Contrarian Capital Management L.L.C. increased its holdings in shares of Emerald by 3.5% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 818,862 shares of the company’s stock worth $3,218,000 after acquiring an additional 27,977 shares during the last quarter. Finally, State of Wyoming raised its stake in Emerald by 8.6% in the 1st quarter. State of Wyoming now owns 93,698 shares of the company’s stock valued at $368,000 after acquiring an additional 7,409 shares during the period. 14.90% of the stock is currently owned by institutional investors and hedge funds.

About Emerald

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.