Finance of America Companies Inc. (NYSE:FOA) Stock Has Average Target Price of $30.50 According to Brokerages

Key Points

• Analyst sentiment is mixed: Five analysts give Finance of America Companies an average “Hold” rating, with two buys, one hold and two sells. The average 12-month price target is $30.50.
• FOA shares opened at $10.41, near their 12-month low of $10.30 and well below the $29.79 high. The stock’s 50-day and 200-day moving averages are $14.39 and $19.51, respectively.
• The company’s latest quarterly results missed expectations, reporting $0.84 EPS versus $1.04 expected and revenue of $62.48 million compared with the $121.94 million consensus estimate. Insiders have sold 43,860 shares worth approximately $747,679 over the past three months.

Finance of America Companies Inc. (NYSE:FOA - Get Free Report) has received an average rating of "Hold" from the five analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $30.50.

A number of equities research analysts have recently weighed in on FOA shares. Weiss Ratings downgraded shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Finance of America Companies from a "sell" rating to a "hold" rating in a research report on Saturday, October 3rd. B. Riley Financial reiterated a "buy" rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Finally, Alliance Global Partners assumed coverage on shares of Finance of America Companies in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 target price on the stock.

Insider Activity at Finance of America Companies

In other news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $13.20, for a total value of $79,200.00. Following the completion of the transaction, the executive directly owned 155,856 shares in the company, valued at approximately $2,057,299.20. This represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 43,860 shares of company stock valued at $747,679. 35.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Finance of America Companies

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Finance of America Companies by 56.7% during the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company's stock valued at $1,694,000 after purchasing an additional 36,929 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Finance of America Companies during the second quarter worth about $240,000. Finally, First Trust Advisors LP grew its holdings in shares of Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock worth $286,000 after purchasing an additional 5,236 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company's stock.

Finance of America Companies Stock Performance

NYSE:FOA opened at $10.41 on Friday. The stock's 50-day simple moving average is $14.39 and its 200 day simple moving average is $19.51. The firm has a market capitalization of $180.21 million, a PE ratio of -3.46 and a beta of 1.68. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. Finance of America Companies has a twelve month low of $10.30 and a twelve month high of $29.79.

Finance of America Companies (NYSE:FOA - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.20). The business had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. On average, analysts anticipate that Finance of America Companies will post 3.87 EPS for the current fiscal year.

About Finance of America Companies

Finance of America Companies Inc NYSE: FOA is a financial services company focused on helping homeowners access and manage home equity. Its primary business is conducted through Finance of America Reverse, which provides reverse mortgage products and related services to older homeowners.

The company offers federally insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgage products and reverse mortgage refinancing solutions. These products generally allow eligible homeowners to convert a portion of their home equity into funds while continuing to live in their homes, subject to applicable loan terms, taxes, insurance and maintenance requirements.

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