RPX (RPXC) Rating Reiterated by Barclays

Barclays reissued their sell rating on shares of RPX (NASDAQ:RPXC) in a research note issued to investors on Friday. They currently have a $14.00 price objective on the business services provider’s stock.

A number of other analysts also recently issued reports on RPXC. Zacks Investment Research downgraded RPX from a buy rating to a hold rating in a research report on Wednesday, October 4th. Robert W. Baird reaffirmed a buy rating and issued a $15.00 target price on shares of RPX in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded RPX from a hold rating to a sell rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $14.25.

RPX (RPXC) traded down $0.34 during trading hours on Friday, hitting $13.40. The company had a trading volume of 237,869 shares, compared to its average volume of 179,180. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $680.49, a P/E ratio of 37.22 and a beta of 1.38. RPX has a twelve month low of $10.41 and a twelve month high of $15.15.

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

In related news, CFO David James Anderson sold 5,000 shares of RPX stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $12.80, for a total value of $64,000.00. Following the sale, the chief financial officer now owns 26,981 shares of the company’s stock, valued at $345,356.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.52% of the stock is currently owned by insiders.

An institutional investor recently raised its position in RPX stock. Nationwide Fund Advisors increased its holdings in shares of RPX Corp (NASDAQ:RPXC) by 151.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 172,449 shares of the business services provider’s stock after purchasing an additional 103,859 shares during the period. Nationwide Fund Advisors owned 0.35% of RPX worth $2,290,000 as of its most recent filing with the SEC. 89.69% of the stock is owned by hedge funds and other institutional investors.

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RPX Company Profile

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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