RPX Corp (RPXC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of RPX Corp (NASDAQ:RPXC) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

RPXC has been the subject of a number of analyst reports. Robert W. Baird reissued a “buy” rating and set a $15.00 price objective on shares of RPX in a research note on Wednesday, November 1st. Zacks Investment Research lowered RPX from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered RPX from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Barclays increased their price objective on RPX from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, October 31st.

Shares of RPX (NASDAQ RPXC) opened at $13.70 on Thursday. The firm has a market capitalization of $682.97, a P/E ratio of 37.03 and a beta of 1.38. RPX has a 52 week low of $10.41 and a 52 week high of $15.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.54 and a current ratio of 2.54.

RPX (NASDAQ:RPXC) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $85.70 million during the quarter, compared to analyst estimates of $82.70 million. RPX had a return on equity of 5.16% and a net margin of 5.53%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. sell-side analysts forecast that RPX will post 0.53 EPS for the current year.

The firm also recently declared a Not Available dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 20th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 17th. RPX’s payout ratio is 13.51%.

In related news, CFO David James Anderson sold 5,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $12.80, for a total value of $64,000.00. Following the completion of the sale, the chief financial officer now owns 26,981 shares of the company’s stock, valued at $345,356.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.52% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors lifted its stake in RPX by 151.4% in the third quarter. Nationwide Fund Advisors now owns 172,449 shares of the business services provider’s stock worth $2,290,000 after acquiring an additional 103,859 shares during the period. SG Americas Securities LLC purchased a new stake in RPX in the third quarter worth $172,000. Finally, Pacific Ridge Capital Partners LLC lifted its stake in RPX by 3.5% in the second quarter. Pacific Ridge Capital Partners LLC now owns 77,140 shares of the business services provider’s stock worth $1,076,000 after acquiring an additional 2,610 shares during the period. 89.69% of the stock is owned by institutional investors.

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About RPX

RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.

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