Safeguard Scientifics (SFE) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Safeguard Scientifics (NYSE:SFE) from a hold rating to a buy rating in a report released on Friday. They currently have $14.00 price objective on the asset manager’s stock.

According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “

SFE has been the topic of a number of other research reports. Keefe, Bruyette & Woods reaffirmed a mkt perform rating and set a $13.25 target price on shares of Safeguard Scientifics in a research report on Wednesday, December 6th. ValuEngine lowered shares of Safeguard Scientifics from a hold rating to a sell rating in a research report on Tuesday, November 14th.

Shares of Safeguard Scientifics (NYSE:SFE) traded up $0.20 during trading on Friday, hitting $12.60. 165,740 shares of the stock were exchanged, compared to its average volume of 154,805. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. Safeguard Scientifics has a twelve month low of $10.65 and a twelve month high of $14.40. The firm has a market capitalization of $253.11, a PE ratio of -2.81 and a beta of 1.36.

Hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC bought a new position in Safeguard Scientifics during the third quarter worth $136,000. Nationwide Fund Advisors increased its position in Safeguard Scientifics by 7.6% during the second quarter. Nationwide Fund Advisors now owns 14,195 shares of the asset manager’s stock worth $169,000 after acquiring an additional 1,006 shares during the period. Alliancebernstein L.P. increased its position in Safeguard Scientifics by 27.4% during the second quarter. Alliancebernstein L.P. now owns 14,430 shares of the asset manager’s stock worth $172,000 after acquiring an additional 3,100 shares during the period. Voya Investment Management LLC increased its position in Safeguard Scientifics by 12.8% during the second quarter. Voya Investment Management LLC now owns 16,710 shares of the asset manager’s stock worth $199,000 after acquiring an additional 1,896 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Safeguard Scientifics by 3.1% during the second quarter. Parametric Portfolio Associates LLC now owns 17,132 shares of the asset manager’s stock worth $204,000 after acquiring an additional 513 shares during the period. 76.46% of the stock is currently owned by institutional investors and hedge funds.

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About Safeguard Scientifics

Safeguard Scientifics, Inc is engaged in providing capital to technology companies within the fields of healthcare, financial services and digital media. The Company holds interest in companies, which it refers to as partner companies. As of December 31, 2016, the Company held interests in 29 non-consolidated partner companies.

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