T. Rowe Price (TROW) Price Target Raised to $105.00

T. Rowe Price (NASDAQ:TROW) had its price target lifted by research analysts at Barclays from $101.00 to $105.00 in a report issued on Monday. The firm presently has an “underweight” rating on the asset manager’s stock. Barclays’ target price suggests a potential downside of 3.32% from the stock’s current price.

Several other research firms have also recently issued reports on TROW. Zacks Investment Research cut shares of T. Rowe Price from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. BidaskClub upgraded shares of T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. TheStreet upgraded shares of T. Rowe Price from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. ValuEngine upgraded shares of T. Rowe Price from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank boosted their price target on shares of T. Rowe Price from $115.00 to $116.00 and gave the stock a “hold” rating in a research report on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $112.90.

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NASDAQ TROW traded up $0.17 on Monday, reaching $108.61. 423,672 shares of the stock were exchanged, compared to its average volume of 1,735,432. T. Rowe Price has a one year low of $67.62 and a one year high of $120.07. The stock has a market cap of $26,524.15, a price-to-earnings ratio of 19.98, a PEG ratio of 1.41 and a beta of 1.21.

T. Rowe Price (NASDAQ:TROW) last released its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 EPS. sell-side analysts predict that T. Rowe Price will post 7.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in T. Rowe Price by 50.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after buying an additional 491 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at $205,000. Shelton Capital Management purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at $206,000. Checchi Capital Advisers LLC purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at $207,000. Finally, Zevin Asset Management LLC purchased a new stake in shares of T. Rowe Price during the fourth quarter valued at $207,000. Institutional investors own 73.06% of the company’s stock.

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T. Rowe Price Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

Analyst Recommendations for T. Rowe Price (NASDAQ:TROW)

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