Buckingham Research Increases Goldman Sachs (GS) Price Target to $292.00

Goldman Sachs (NYSE:GS) had its price objective boosted by analysts at Buckingham Research from $285.00 to $292.00 in a research note issued to investors on Tuesday. The firm presently has a “neutral” rating on the investment management company’s stock. Buckingham Research’s price objective would suggest a potential upside of 14.96% from the company’s current price.

A number of other analysts have also issued reports on the stock. Wells Fargo reiterated an “outperform” rating and set a $320.00 price target on shares of Goldman Sachs in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Goldman Sachs from a “hold” rating to a “buy” rating and set a $294.00 price target on the stock in a research note on Tuesday, March 20th. Barclays boosted their price target on shares of Goldman Sachs from $262.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Vertical Group upgraded shares of Goldman Sachs from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Morgan Stanley boosted their price objective on Goldman Sachs from $294.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $266.29.

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Shares of NYSE:GS opened at $254.00 on Tuesday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $97,965.26, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. Goldman Sachs has a 1 year low of $209.62 and a 1 year high of $275.31.

Goldman Sachs (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.58 by $1.37. The company had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a net margin of 13.36% and a return on equity of 11.66%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 earnings per share. analysts anticipate that Goldman Sachs will post 21.83 EPS for the current fiscal year.

In related news, EVP John F.W. Rogers sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $265.37, for a total value of $1,167,628.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Solomon sold 21,252 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $271.65, for a total value of $5,773,105.80. The disclosure for this sale can be found here. Insiders sold 66,048 shares of company stock valued at $17,668,347 over the last ninety days. 1.71% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GS. CAPROCK Group Inc. boosted its holdings in shares of Goldman Sachs by 8.7% in the fourth quarter. CAPROCK Group Inc. now owns 2,551 shares of the investment management company’s stock valued at $656,000 after acquiring an additional 205 shares during the period. Alpha Windward LLC boosted its holdings in shares of Goldman Sachs by 24.2% in the fourth quarter. Alpha Windward LLC now owns 1,062 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 207 shares during the period. Segment Wealth Management LLC boosted its holdings in shares of Goldman Sachs by 1.1% in the fourth quarter. Segment Wealth Management LLC now owns 19,279 shares of the investment management company’s stock valued at $4,912,000 after acquiring an additional 210 shares during the period. Doyle Wealth Management boosted its holdings in shares of Goldman Sachs by 0.5% in the fourth quarter. Doyle Wealth Management now owns 46,078 shares of the investment management company’s stock valued at $11,739,000 after acquiring an additional 211 shares during the period. Finally, Quadrant Capital Management LLC boosted its holdings in shares of Goldman Sachs by 1.7% in the fourth quarter. Quadrant Capital Management LLC now owns 12,807 shares of the investment management company’s stock valued at $3,263,000 after acquiring an additional 215 shares during the period. 73.21% of the stock is owned by hedge funds and other institutional investors.

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About Goldman Sachs

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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