Forrester Research (NASDAQ:FORR)‘s stock had its “hold” rating restated by investment analysts at Barrington Research in a report released on Monday, October 21st, TipRanks reports.
A number of other equities research analysts have also weighed in on FORR. ValuEngine upgraded shares of Forrester Research from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Maxim Group restated a “buy” rating and issued a $59.00 price objective (down from $62.00) on shares of Forrester Research in a report on Thursday, August 1st. Zacks Investment Research raised shares of Forrester Research from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, October 9th. BidaskClub raised shares of Forrester Research from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. Finally, Sidoti initiated coverage on shares of Forrester Research in a research note on Wednesday, August 28th. They issued a “buy” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Forrester Research currently has a consensus rating of “Buy” and a consensus target price of $51.00.
Shares of Forrester Research stock traded up $0.26 during trading on Monday, hitting $36.99. 41,800 shares of the stock were exchanged, compared to its average volume of 49,488. Forrester Research has a 1-year low of $30.76 and a 1-year high of $51.75. The stock has a market capitalization of $681.94 million, a price-to-earnings ratio of 44.04 and a beta of 0.72. The company has a current ratio of 0.61, a quick ratio of 0.64 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $34.16 and a 200-day moving average price of $40.98.
Forrester Research (NASDAQ:FORR) last announced its earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $108.60 million during the quarter, compared to analyst estimates of $107.21 million. Forrester Research had a negative net margin of 2.08% and a negative return on equity of 6.13%. Equities research analysts forecast that Forrester Research will post -0.7 EPS for the current fiscal year.
In other news, Director Neil Bradford purchased 3,040 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the purchase, the director now directly owns 8,809 shares in the company, valued at approximately $287,437.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 43.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Forrester Research by 303.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848 shares of the technology company’s stock valued at $27,000 after purchasing an additional 638 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Forrester Research by 504.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,444 shares during the last quarter. Bank of Montreal Can increased its position in shares of Forrester Research by 97.1% during the 2nd quarter. Bank of Montreal Can now owns 1,798 shares of the technology company’s stock valued at $86,000 after purchasing an additional 886 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Forrester Research during the 3rd quarter valued at about $149,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in shares of Forrester Research during the 2nd quarter valued at about $224,000. Institutional investors and hedge funds own 53.86% of the company’s stock.
About Forrester Research
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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