ANGI Homeservices (NASDAQ:ANGI) Cut to “Hold” at Zacks Investment Research

ANGI Homeservices (NASDAQ:ANGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “ANGI Homeservices Inc. provides digital marketplace for home services. The Company’s brand portfolio includes HomeAdvisor(R), Angie’sList, mHelpDesk, HomeStars, Travaux.com, MyHammer, MyBuilder, Werkspot and Instapro. It operates primarily in Canada, France, Germany, UK, Netherlands and Italy. ANGI Homeservices Inc., formerly known as Angie’s List Inc., is headquartered in Golden, Colo. “

ANGI has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 target price on shares of ANGI Homeservices in a report on Tuesday, August 11th. TheStreet upgraded ANGI Homeservices from a “d+” rating to a “c-” rating in a report on Tuesday, August 11th. ValuEngine cut ANGI Homeservices from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. Benchmark upped their target price on ANGI Homeservices from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, BidaskClub cut ANGI Homeservices from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 9th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. ANGI Homeservices presently has an average rating of “Buy” and an average price target of $14.68.

ANGI traded down $1.05 during trading hours on Wednesday, reaching $11.16. 268,327 shares of the company’s stock traded hands, compared to its average volume of 2,545,177. The firm has a 50-day moving average price of $14.06 and a 200 day moving average price of $10.51. ANGI Homeservices has a 52-week low of $4.10 and a 52-week high of $17.05. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $6.06 billion, a PE ratio of 279.07 and a beta of 2.11.

ANGI Homeservices (NASDAQ:ANGI) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. ANGI Homeservices had a return on equity of 1.65% and a net margin of 1.55%. The company had revenue of $375.06 million during the quarter, compared to analysts’ expectations of $364.45 million. During the same quarter in the previous year, the business earned $0.01 EPS. ANGI Homeservices’s revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that ANGI Homeservices will post 0.02 EPS for the current fiscal year.

In related news, Director Bowman Angela R. Hicks sold 10,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $13.94, for a total transaction of $139,400.00. Following the transaction, the director now directly owns 358,606 shares of the company’s stock, valued at approximately $4,998,967.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jamie Cohen sold 31,029 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $14.10, for a total value of $437,508.90. Following the transaction, the chief financial officer now directly owns 30,488 shares in the company, valued at $429,880.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,530,962 shares of company stock worth $21,906,157 over the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ANGI Homeservices by 254.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,935 shares of the technology company’s stock valued at $57,000 after purchasing an additional 7,851 shares during the period. Parametrica Management Ltd acquired a new position in shares of ANGI Homeservices in the first quarter valued at about $72,000. UBS Group AG increased its holdings in shares of ANGI Homeservices by 1,278.2% in the first quarter. UBS Group AG now owns 16,538 shares of the technology company’s stock valued at $86,000 after purchasing an additional 15,338 shares during the period. Arizona State Retirement System acquired a new position in shares of ANGI Homeservices in the first quarter valued at about $95,000. Finally, Virtu Financial LLC acquired a new position in shares of ANGI Homeservices in the second quarter valued at about $228,000. 19.95% of the stock is currently owned by institutional investors and hedge funds.

About ANGI Homeservices

ANGI Homeservices Inc operates a digital marketplace for home services, connecting millions of homeowners with home service professionals in North America and Europe. Its HomeAdvisor digital marketplace service connects consumers with service professionals for home repair, maintenance, and improvement projects, as well as provides consumers with tools and resources to help them find local, pre-screened, and customer-rated service professionals.

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