Analysts Set Waddell & Reed Financial, Inc. (NYSE:WDR) Price Target at $16.50

Waddell & Reed Financial, Inc. (NYSE:WDR) has been given an average rating of “Hold” by the seven brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of research firms have recently weighed in on WDR. Bank of America downgraded shares of Waddell & Reed Financial from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research report on Friday, September 13th. Evercore ISI downgraded shares of Waddell & Reed Financial from an “in-line” rating to an “underperform” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price objective on shares of Waddell & Reed Financial from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, October 8th. Finally, ValuEngine raised shares of Waddell & Reed Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th.

Waddell & Reed Financial stock opened at $16.51 on Monday. Waddell & Reed Financial has a twelve month low of $14.91 and a twelve month high of $19.18. The firm has a 50 day moving average price of $16.41 and a 200-day moving average price of $16.52. The company has a market capitalization of $1.17 billion, a P/E ratio of 7.24 and a beta of 1.44. The company has a quick ratio of 1.18, a current ratio of 3.73 and a debt-to-equity ratio of 0.11.

Waddell & Reed Financial (NYSE:WDR) last released its earnings results on Tuesday, October 29th. The asset manager reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Waddell & Reed Financial had a net margin of 13.57% and a return on equity of 16.62%. The firm had revenue of $270.70 million during the quarter, compared to the consensus estimate of $266.84 million. During the same period in the prior year, the firm earned $0.58 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. Equities analysts expect that Waddell & Reed Financial will post 1.7 EPS for the current fiscal year.

In related news, Director Jerry W. Walton sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.48, for a total value of $166,060.00. Following the completion of the transaction, the director now directly owns 69,327 shares of the company’s stock, valued at approximately $1,211,835.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.13% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Factorial Partners LLC lifted its stake in Waddell & Reed Financial by 2.0% in the 2nd quarter. Factorial Partners LLC now owns 51,000 shares of the asset manager’s stock worth $850,000 after purchasing an additional 1,000 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Waddell & Reed Financial in the 1st quarter worth approximately $26,000. Leavell Investment Management Inc. lifted its stake in Waddell & Reed Financial by 4.6% in the 3rd quarter. Leavell Investment Management Inc. now owns 35,919 shares of the asset manager’s stock worth $617,000 after purchasing an additional 1,571 shares in the last quarter. Sun Life Financial INC purchased a new stake in Waddell & Reed Financial in the 2nd quarter worth approximately $27,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Waddell & Reed Financial in the 3rd quarter worth approximately $30,000.

Waddell & Reed Financial Company Profile

Waddell & Reed Financial, Inc, through its subsidiaries, provides investment management and advisory, investment product underwriting and distribution, and shareholder services administration to mutual funds, and institutional and separately managed accounts in the United States. The company acts as an investment adviser for institutional and other private investors, and provides sub advisory services to other investment companies; and underwrites and distributes registered open-end mutual fund portfolios.

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Analyst Recommendations for Waddell & Reed Financial (NYSE:WDR)

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