Goldman Sachs Group (GS) Given New $235.00 Price Target at Wells Fargo & Co

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Goldman Sachs Group (NYSE:GS) had its price target dropped by stock analysts at Wells Fargo & Co from $305.00 to $235.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the investment management company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 36.11% from the company’s current price.

Several other research analysts have also commented on GS. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $249.00 price target on the stock in a report on Tuesday, November 13th. Credit Suisse Group cut their price objective on Goldman Sachs Group from $280.00 to $258.00 and set an “outperform” rating for the company in a research report on Friday, December 7th. Atlantic Securities downgraded Goldman Sachs Group from an “overweight” rating to a “neutral” rating in a research report on Wednesday, December 12th. Bank of America cut their price objective on Goldman Sachs Group from $280.00 to $225.00 and set a “neutral” rating for the company in a research report on Sunday, December 9th. Finally, Wolfe Research started coverage on Goldman Sachs Group in a research report on Tuesday, September 25th. They set an “outperform” rating for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $261.27.

Shares of NYSE GS traded up $1.16 during trading on Tuesday, hitting $172.66. 113,756 shares of the company were exchanged, compared to its average volume of 3,951,615. Goldman Sachs Group has a 12-month low of $166.53 and a 12-month high of $275.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.04. The firm has a market cap of $62.50 billion, a PE ratio of 8.74, a P/E/G ratio of 0.55 and a beta of 1.11.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping the consensus estimate of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The business had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the previous year, the firm earned $5.02 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that Goldman Sachs Group will post 25.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GS. Moneta Group Investment Advisors LLC boosted its stake in shares of Goldman Sachs Group by 7,719.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after buying an additional 23,157 shares during the period. Zions Bancorporation purchased a new stake in Goldman Sachs Group during the second quarter worth approximately $109,000. Palo Capital Inc. purchased a new stake in Goldman Sachs Group during the third quarter worth approximately $109,000. Asset Advisors Investment Management LLC purchased a new stake in Goldman Sachs Group during the third quarter worth approximately $115,000. Finally, Canton Hathaway LLC purchased a new stake in Goldman Sachs Group during the third quarter worth approximately $174,000. 70.83% of the stock is owned by institutional investors.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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