AXA Equitable (NYSE:EQH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $23.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.68% from the company’s previous close.
According to Zacks, “AXA Equitable Holdings Inc. provides financial services which includes investment management insights and advisory solutions. The Company’s operating segments consists of Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions and Corporate and Other. AXA Equitable Holdings Inc. is based in New York. “
Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $28.00 target price on shares of AXA Equitable in a research note on Friday, August 17th. Barclays lowered their target price on shares of AXA Equitable from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, July 9th. Evercore ISI started coverage on shares of AXA Equitable in a research note on Friday, June 29th. They issued an “outperform” rating and a $26.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of AXA Equitable from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 11th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. AXA Equitable currently has a consensus rating of “Buy” and an average target price of $25.25.
NYSE EQH traded up $0.14 on Tuesday, hitting $20.78. The stock had a trading volume of 1,580,100 shares, compared to its average volume of 2,197,845. AXA Equitable has a 52-week low of $19.50 and a 52-week high of $23.21.
AXA Equitable (NYSE:EQH) last posted its earnings results on Tuesday, August 14th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.07 billion. The company’s revenue was down 23.7% on a year-over-year basis. As a group, research analysts forecast that AXA Equitable will post 3.54 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of EQH. Cambiar Investors LLC purchased a new stake in shares of AXA Equitable during the 2nd quarter valued at $8,094,000. Amalgamated Bank purchased a new stake in shares of AXA Equitable during the 2nd quarter valued at $321,000. BNP Paribas Arbitrage SA purchased a new stake in shares of AXA Equitable during the 2nd quarter valued at $606,000. Tdam USA Inc. purchased a new stake in shares of AXA Equitable during the 2nd quarter valued at $3,079,000. Finally, TD Asset Management Inc. purchased a new stake in shares of AXA Equitable during the 2nd quarter valued at $8,008,000. Hedge funds and other institutional investors own 28.74% of the company’s stock.
About AXA Equitable
AXA Equitable Holdings, Inc provides various financial services worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products, which are primarily sold to affluent and high net worth individuals.
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