Inter & Co. Inc. (NASDAQ:INTR) Shares Gap Up on Analyst Upgrade

Key Points

• Inter & Co. shares rose 4.6% after UBS raised its price target from $8.80 to $10.00 and maintained a Buy rating; the stock opened at $7.17 versus a prior close of $6.90.
• Analyst sentiment is mixed, with a consensus Hold rating and an average price target of $9.80. JPMorgan also raised its target to $11.00, while Zacks Research downgraded the stock to Strong Sell.
• Institutional ownership stands at 22.9%, with several hedge funds increasing their positions. In its latest quarter, Inter & Co. reported EPS of $0.19, slightly ahead of estimates, but revenue of $475.45 million fell short of expectations.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) gapped up prior to trading on Tuesday after UBS Group raised their price target on the stock from $8.80 to $10.00. The stock had previously closed at $6.90, but opened at $7.17. UBS Group currently has a buy rating on the stock. Inter & Co. Inc. shares last traded at $7.2350, with a volume of 602,277 shares traded.

INTR has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Inter & Co. Inc. from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 6th. Zacks Research cut shares of Inter & Co. Inc. from a "hold" rating to a "strong sell" rating in a report on Friday, October 9th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Inter & Co. Inc. in a research report on Tuesday, October 6th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Inter & Co. Inc. currently has a consensus rating of "Hold" and an average price target of $9.80.

Hedge Funds Weigh In On Inter & Co. Inc.

Hedge funds have recently added to or reduced their stakes in the stock. SPX Gestao de Recursos Ltda increased its position in Inter & Co. Inc. by 1,059.2% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 4,023,802 shares of the company's stock worth $32,029,000 after buying an additional 3,676,696 shares during the period. Navi International Administradora e Gestora de Recursos Financeiros Ltda. acquired a new stake in shares of Inter & Co. Inc. during the 2nd quarter valued at $13,267,000. Wellington Management Group LLP boosted its position in Inter & Co. Inc. by 16.2% during the 2nd quarter. Wellington Management Group LLP now owns 6,472,694 shares of the company's stock worth $35,147,000 after buying an additional 904,682 shares during the period. Bank of America Corp DE grew its position in shares of Inter & Co. Inc. by 84.3% in the 1st quarter. Bank of America Corp DE now owns 1,488,581 shares of the company's stock valued at $11,849,000 after buying an additional 680,958 shares during the last quarter. Finally, ABS Direct Equity Fund LLC acquired a new stake in shares of Inter & Co. Inc. during the first quarter worth $4,630,000. Institutional investors and hedge funds own 22.90% of the company's stock.

Inter & Co. Inc. Stock Up 4.6%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.33 and a beta of 0.94. The firm has a 50 day moving average of $5.79 and a 200 day moving average of $6.14.

Inter & Co. Inc. (NASDAQ:INTR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Inter & Co. Inc. had a net margin of 11.23% and a return on equity of 14.94%. The business had revenue of $475.45 million during the quarter, compared to analyst estimates of $513.31 million. As a group, sell-side analysts predict that Inter & Co. Inc. will post 0.76 earnings per share for the current year.

About Inter & Co. Inc.

Inter & Co Inc is a technology and financial services company that operates the Inter platform, a digital banking and commerce ecosystem serving customers primarily in Brazil. The company provides financial products through a mobile application designed to bring banking, payments and other consumer services together in one platform.

Its offerings include digital checking accounts, payment services, credit cards, personal and payroll loans, mortgages, insurance, foreign-exchange services and investment products.

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