Finance Of America Companies (NYSE:FOA) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Finance Of America Companies (NYSE:FOAGet Rating) from a strong sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Finance of America is a diversified, vertically integrated consumer lending platform. Its product offerings include mortgages, reverse mortgages and loans to residential real estate investors distributed across retail, third party network and digital channels. Finance of America, formerly known as Replay Acquisition Corp., is headquartered in Irving, TX. “

A number of other research analysts have also weighed in on FOA. Credit Suisse Group cut their price objective on Finance Of America Companies from $9.00 to $7.00 and set an outperform rating on the stock in a report on Wednesday, March 23rd. Raymond James cut their price target on shares of Finance Of America Companies from $10.50 to $8.50 and set a strong-buy rating on the stock in a report on Monday, March 7th. The Goldman Sachs Group decreased their price objective on shares of Finance Of America Companies from $4.50 to $3.85 and set a neutral rating for the company in a research note on Monday, April 4th. Finally, Morgan Stanley cut their price objective on shares of Finance Of America Companies from $4.00 to $3.75 and set an equal weight rating on the stock in a research note on Friday, March 4th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $5.47.

NYSE:FOA opened at $2.48 on Wednesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 2.02 and a quick ratio of 2.02. Finance Of America Companies has a twelve month low of $2.23 and a twelve month high of $11.66. The company’s 50 day moving average is $2.88 and its two-hundred day moving average is $3.78.

Finance Of America Companies (NYSE:FOAGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $382.95 million for the quarter, compared to analysts’ expectations of $425.62 million. As a group, research analysts forecast that Finance Of America Companies will post 0.9 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Finance Of America Companies by 99.1% during the 3rd quarter. Royal Bank of Canada now owns 5,366 shares of the company’s stock worth $27,000 after acquiring an additional 2,671 shares in the last quarter. UBS Group AG increased its stake in shares of Finance Of America Companies by 301.6% in the 3rd quarter. UBS Group AG now owns 8,212 shares of the company’s stock valued at $40,000 after purchasing an additional 6,167 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Finance Of America Companies in the 4th quarter worth about $40,000. Great Lakes Advisors LLC purchased a new position in Finance Of America Companies during the fourth quarter worth approximately $41,000. Finally, Capstone Financial Advisors Inc. purchased a new position in Finance Of America Companies during the third quarter worth approximately $50,000.

About Finance Of America Companies (Get Rating)

Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.

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