Sterling Check (NASDAQ:STER) Price Target Cut to $18.00

Sterling Check (NASDAQ:STER – Get Rating) had its price objective cut by The Goldman Sachs Group from $20.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 36.78% from the stock’s previous close.

A number of other brokerages also recently commented on STER. Needham & Company LLC downgraded shares of Sterling Check from a “buy” rating to a “hold” rating in a research report on Friday, February 10th. Barclays reduced their price target on shares of Sterling Check to $14.00 in a research report on Wednesday, November 16th. Robert W. Baird reduced their price target on shares of Sterling Check from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. KeyCorp reduced their price target on shares of Sterling Check from $29.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Finally, Morgan Stanley reduced their price target on shares of Sterling Check from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Sterling Check Price Performance

Shares of NASDAQ:STER opened at $13.16 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.27 billion, a P/E ratio of 69.26 and a beta of 0.29. Sterling Check has a 52 week low of $11.65 and a 52 week high of $28.76. The company has a 50-day moving average price of $14.18 and a 200 day moving average price of $16.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STER. Envestnet Asset Management Inc. increased its stake in shares of Sterling Check by 36.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,659 shares of the company’s stock worth $361,000 after purchasing an additional 3,617 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sterling Check by 18.5% in the 1st quarter. JPMorgan Chase & Co. now owns 11,828 shares of the company’s stock worth $312,000 after acquiring an additional 1,848 shares during the period. Bank of New York Mellon Corp grew its stake in Sterling Check by 18.8% in the 1st quarter. Bank of New York Mellon Corp now owns 48,742 shares of the company’s stock worth $1,288,000 after acquiring an additional 7,715 shares during the period. MetLife Investment Management LLC grew its stake in Sterling Check by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 11,322 shares of the company’s stock worth $299,000 after acquiring an additional 4,037 shares during the period. Finally, Rhumbline Advisers grew its stake in Sterling Check by 37.2% in the 1st quarter. Rhumbline Advisers now owns 18,202 shares of the company’s stock worth $481,000 after acquiring an additional 4,939 shares during the period. 85.45% of the stock is owned by hedge funds and other institutional investors.

Sterling Check Company Profile

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Sterling Check Corp. provides technology-enabled background and identity verification services in the United States, Canada, Europe, the Middle East and Africa, and the Asia Pacific. The company offers identity verification services, such as telecom and device verification, identification document verification, facial recognition with biometric matching, social security number verification, and live video chat identification proofing; fingerprinting; background checks, including criminal record checks, sex offender registries, civil court records, motor vehicle and driving license records, executive investigations, credit reports, social media searches, and contingent workforce solutions; liens, judgments, and bankruptcies; and sanctions, risk, and compliance checks.