Finance Of America Companies (NYSE:FOA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Finance Of America Companies (NYSE:FOA – Get Rating) from a hold rating to a sell rating in a report 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. “

FOA has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of Finance Of America Companies from $4.00 to $3.75 and set an equal weight rating for the company in a research report on Friday, March 4th. The Goldman Sachs Group cut their target price on shares of Finance Of America Companies from $4.50 to $3.85 and set a neutral rating for the company in a research report on Monday, April 4th. Raymond James cut their target price on shares of Finance Of America Companies from $10.50 to $8.50 and set a strong-buy rating for the company in a research report on Monday, March 7th. Finally, Credit Suisse Group cut their target price on shares of Finance Of America Companies from $9.00 to $7.00 and set an outperform rating for the company in a research report on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $5.47.

Shares of FOA opened at $2.43 on Wednesday. The company has a debt-to-equity ratio of 10.22, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a 50 day moving average of $2.72 and a 200 day moving average of $3.64. Finance Of America Companies has a twelve month low of $2.13 and a twelve month high of $10.61.

Finance Of America Companies (NYSE:FOA – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Finance Of America Companies had a negative net margin of 25.42% and a positive return on equity of 13.28%. On average, equities research analysts predict that Finance Of America Companies will post 0.53 EPS for the current fiscal year.

Institutional investors have recently modified their holdings 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 during the last quarter. UBS Group AG lifted its stake in shares of Finance Of America Companies by 301.6% during the 3rd quarter. UBS Group AG now owns 8,212 shares of the company’s stock valued at $40,000 after buying an additional 6,167 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new position in shares of Finance Of America Companies during the 3rd quarter valued at $50,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Finance Of America Companies during the 4th quarter valued at $40,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Finance Of America Companies during the 4th quarter valued at $41,000.

Finance Of America Companies Company Profile (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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