NEWTEK Business Services (NASDAQ:NEWT) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday, September 18th.

A number of other analysts have also recently weighed in on NEWT. Zacks Investment Research raised NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Thursday, June 28th. Compass Point set a $19.00 price target on NEWTEK Business Services and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Singular Research reaffirmed a “not rated” rating on shares of NEWTEK Business Services in a research report on Monday, August 27th. Finally, Raymond James cut NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 5th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. NEWTEK Business Services has a consensus rating of “Hold” and an average price target of $20.67.

NASDAQ NEWT traded up $0.93 on Tuesday, reaching $18.91. The stock had a trading volume of 433,963 shares, compared to its average volume of 122,509. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31. NEWTEK Business Services has a 1 year low of $16.01 and a 1 year high of $24.24. The company has a market capitalization of $393.51 million, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 3.67 and a beta of 1.30.

NEWTEK Business Services (NASDAQ:NEWT) last issued its earnings results on Wednesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. NEWTEK Business Services had a return on equity of 8.86% and a net margin of 105.34%. The firm had revenue of $11.40 million for the quarter, compared to the consensus estimate of $11.47 million. On average, equities analysts anticipate that NEWTEK Business Services will post 1.9 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NEWT. Advisors Asset Management Inc. lifted its position in shares of NEWTEK Business Services by 13.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 440,964 shares of the business services provider’s stock worth $8,780,000 after purchasing an additional 51,624 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of NEWTEK Business Services during the 1st quarter worth about $568,000. Raymond James & Associates lifted its position in shares of NEWTEK Business Services by 55.7% during the 2nd quarter. Raymond James & Associates now owns 82,764 shares of the business services provider’s stock worth $1,648,000 after purchasing an additional 29,605 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of NEWTEK Business Services during the 1st quarter worth about $521,000. Finally, GSA Capital Partners LLP acquired a new position in shares of NEWTEK Business Services during the 2nd quarter worth about $430,000. 21.16% of the stock is owned by institutional investors and hedge funds.

NEWTEK Business Services Company Profile

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.

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