Barclays Reaffirms Sell Rating for RPX (RPXC)

RPX (NASDAQ:RPXC)‘s stock had its “sell” rating reaffirmed by investment analysts at Barclays in a report issued on Friday. They currently have a $14.00 price target on the business services provider’s stock. Barclays’ target price points to a potential upside of 1.89% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Robert W. Baird reissued a “buy” rating and issued a $15.00 price target on shares of RPX in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of RPX from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. RPX currently has a consensus rating of “Hold” and a consensus target price of $14.25.

RPX (NASDAQ RPXC) traded up $0.18 during trading hours on Friday, hitting $13.74. 179,963 shares of the stock were exchanged, compared to its average volume of 250,230. RPX has a 12 month low of $10.41 and a 12 month high of $15.15. The company has a market capitalization of $680.49, a price-to-earnings ratio of 38.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.54 and a current ratio of 2.54.

RPX (NASDAQ:RPXC) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. RPX had a net margin of 5.53% and a return on equity of 5.16%. The company had revenue of $85.70 million for the quarter, compared to analyst estimates of $82.70 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. research analysts expect that RPX will post 0.53 EPS for the current fiscal year.

In related news, CFO David James Anderson sold 5,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $12.80, for a total transaction of $64,000.00. Following the transaction, the chief financial officer now owns 26,981 shares of the company’s stock, valued at $345,356.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.52% of the company’s stock.

A hedge fund recently bought a new stake in RPX stock. SG Americas Securities LLC bought a new position in shares of RPX Corp (NASDAQ:RPXC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,977 shares of the business services provider’s stock, valued at approximately $172,000. 89.69% of the stock is currently owned by institutional investors.

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About RPX

RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.

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