People Incorporated Common Stock (NASDAQ:PPLI) Stock Has Average Price Target of $56.08

Key Points

• Analyst sentiment is moderately bullish: Fifteen firms rate the stock, with nine buys and six holds, producing a consensus “Moderate Buy” rating and an average 12-month price target of $56.08.
• The stock opened at $40.84, compared with a 12-month range of $29.56 to $48.32. Its latest quarterly results exceeded expectations, with $6.68 in EPS and $436.74 million in revenue, though revenue declined 1.5% year over year.
• Institutional ownership is high at 88.9%. Several hedge funds increased their stakes, including Aristeia Capital, Corvex Management, and Empyrean Capital Partners.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fifteen research firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $56.08.

Several research firms have commented on PPLI. Citigroup lifted their target price on shares of People Incorporated Common Stock from $48.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Zacks Research lowered People Incorporated Common Stock from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. started coverage on People Incorporated Common Stock in a report on Friday, September 11th. They set an "overweight" rating and a $54.00 price objective on the stock. Benchmark lifted their price objective on People Incorporated Common Stock from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, TD Cowen reiterated a "buy" rating on shares of People Incorporated Common Stock in a research note on Tuesday, August 4th.

People Incorporated Common Stock Price Performance

People Incorporated Common Stock stock opened at $40.84 on Wednesday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 9.12 and a beta of 1.04. People Incorporated Common Stock has a 12-month low of $29.56 and a 12-month high of $48.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.69 and a quick ratio of 3.69. The firm's 50-day moving average is $39.37 and its two-hundred day moving average is $41.71.

People Incorporated Common Stock (NASDAQ:PPLI - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $6.68 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $7.08. People Incorporated Common Stock had a net margin of 16.05% and a return on equity of 8.48%. The business had revenue of $436.74 million for the quarter, compared to the consensus estimate of $433.77 million. During the same quarter in the prior year, the firm posted $2.57 earnings per share. The company's quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts predict that People Incorporated Common Stock will post 6.97 earnings per share for the current year.

Institutional Trading of People Incorporated Common Stock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aristeia Capital L.L.C. lifted its holdings in shares of People Incorporated Common Stock by 100.7% during the 4th quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company's stock worth $222,966,000 after acquiring an additional 2,861,871 shares during the period. Corvex Management LP grew its holdings in People Incorporated Common Stock by 20.3% in the fourth quarter. Corvex Management LP now owns 3,355,075 shares of the company's stock valued at $131,183,000 after purchasing an additional 566,696 shares during the period. Empyrean Capital Partners LP grew its holdings in People Incorporated Common Stock by 21.1% in the first quarter. Empyrean Capital Partners LP now owns 820,000 shares of the company's stock valued at $32,825,000 after purchasing an additional 143,000 shares during the period. Royal Bank of Canada increased its position in People Incorporated Common Stock by 5.9% during the first quarter. Royal Bank of Canada now owns 458,414 shares of the company's stock worth $18,350,000 after purchasing an additional 25,423 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its position in People Incorporated Common Stock by 4.6% during the first quarter. ACR Alpine Capital Research LLC now owns 450,788 shares of the company's stock worth $18,045,000 after purchasing an additional 19,801 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

About People Incorporated Common Stock

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands.

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