Zacks: HC2 Holdings, Inc. (HCHC) Given $11.50 Average Price Target by Brokerages

HC2 Holdings, Inc. (NYSE:HCHC) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus target price of $11.50 for the company and are predicting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also assigned HC2 Holdings an industry rank of 117 out of 265 based on the ratings given to its competitors.

Several analysts have weighed in on HCHC shares. B. Riley reissued a “buy” rating and set a $10.00 target price on shares of HC2 Holdings in a research report on Sunday, August 13th. Zacks Investment Research raised shares of HC2 Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

In other HC2 Holdings news, insider Suzi R. Herbst sold 5,303 shares of HC2 Holdings stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $4.99, for a total transaction of $26,461.97. Following the completion of the sale, the insider now directly owns 27,493 shares in the company, valued at approximately $137,190.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of HC2 Holdings stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $5.00, for a total transaction of $100,000.00. Following the sale, the director now owns 19,779 shares of the company’s stock, valued at $98,895. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HCHC. Bank of America Corp DE lifted its stake in HC2 Holdings by 159.1% during the 1st quarter. Bank of America Corp DE now owns 17,065 shares of the technology company’s stock valued at $106,000 after acquiring an additional 10,479 shares during the period. Voya Investment Management LLC lifted its stake in HC2 Holdings by 29.2% during the 2nd quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock valued at $118,000 after acquiring an additional 4,546 shares during the period. American International Group Inc. lifted its stake in HC2 Holdings by 7.1% during the 1st quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock valued at $127,000 after acquiring an additional 1,364 shares during the period. Alliancebernstein L.P. acquired a new stake in HC2 Holdings during the 2nd quarter valued at approximately $151,000. Finally, New York State Common Retirement Fund lifted its stake in HC2 Holdings by 5.6% during the 2nd quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock valued at $154,000 after acquiring an additional 1,399 shares during the period. Institutional investors and hedge funds own 61.66% of the company’s stock.

HC2 Holdings (HCHC) traded up $0.27 during trading hours on Thursday, reaching $5.22. 220,021 shares of the company’s stock traded hands, compared to its average volume of 158,950. HC2 Holdings has a 12 month low of $4.30 and a 12 month high of $7.27. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06.

HC2 Holdings (NYSE:HCHC) last released its earnings results on Wednesday, November 8th. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $406.40 million for the quarter, compared to analysts’ expectations of $428.04 million. HC2 Holdings had a negative return on equity of 67.69% and a negative net margin of 6.13%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) EPS. equities research analysts expect that HC2 Holdings will post -1.11 earnings per share for the current year.

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HC2 Holdings Company Profile

HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.

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