KBW analyst Frederick Cannon reiterated a Hold rating on Newtek Business (NASDAQ: NEWT) yesterday and set a price target of $21. The company’s shares closed yesterday at $21.40, close to its 52-week high of $21.43.
According to TipRanks.com, Cannon is ranked #314 out of 4848 analysts.
Newtek Business has an analyst consensus of Hold, with a price target consensus of $20, which is a -6.5% downside from current levels. In a report issued on August 2, Compass Point also reiterated a Hold rating on the stock with a $19 price target.
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Newtek Business’ market cap is currently $401.1M and has a P/E ratio of 9.30. The company has a Price to Book ratio of 1.42.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NEWT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Newtek Business Services Corp. is an non-diversified closed-end management investment company, which engages in the provision of wide range of business services and financial products under the Newtek brand to small-and-medium sized business market. The company was founded by Barry Sloane in 1998 and is headquartered in New York, NY.
