Guild (NYSE:GHLD) Downgraded to “Equal Weight” at Wells Fargo & Company

Guild (NYSE: GHLD – Get Rating) was downgraded by Wells Fargo & Company investment analysts from an “overweight” rating to an “equally weighted” rating in a research note released Monday to investors, reports The Fly. They currently have a price target of $11.00 on the stock. Wells Fargo & Company’s price target suggests a potential decline of 0.36% from the stock’s previous close.

Other analysts have also recently published research reports on the stock. Zacks Investment Research moved Guild shares from a “buy” rating to a “hold” rating in a Friday, March 11 research report. JMP Securities cut its price target on Guild shares from $19.00 to $16.00 and set a “market outperformance” rating on the stock in a Wednesday, March 16 research report. Finally, JPMorgan Chase & Co. cut its price target on Guild shares from $16.50 to $15.50 in a Wednesday, January 19 research report. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.50.

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The growing demand for this “red rock” could be the most important development in 2022. It is the key to the transition to new green energy economies. Bloomberg News warns… “Within a decade, the world could face a massive shortage of what is arguably the most critical metal for global economies.” Copper prices have nearly doubled over the past year.

NYSE GHLD opened at $11.04 on Monday. The company has a market cap of $674.07 million, a price-earnings ratio of 2.36, and a beta of 0.28. Guild has a 12-month low of $10.31 and a 12-month high of $16.61. The stock has a fifty-day simple moving average of $12.23 and a 200-day simple moving average of $13.51.

Guild (NYSE:GHLD – Get Rating) last released quarterly earnings data on Thursday, March 10. The company reported earnings per share of $0.37 for the quarter, missing the Zacks consensus estimate of $0.64 per ($0.27). In the same quarter last year, the company posted earnings per share of $1.48. Sell-side analysts expect Guild to post earnings per share of 2.78 for the current year.

Several hedge funds have recently increased or reduced their stakes in the company. BlackRock Inc. bought a new position in Guild stock during Q3 for a value of approximately $28,000. Morgan Stanley increased its holdings of Guild shares by 304.9% in the third quarter. Morgan Stanley now owns 3,644 shares of the company worth $50,000 after acquiring 2,744 more shares in the last quarter. State Street Corp acquired a new stake in Guild stock in Q2 worth approximately $208,000. Renaissance Technologies LLC acquired a new stake in Guild stock in Q4 worth approximately $314,000. Finally, Schonfeld Strategic Advisors LLC increased its holding in Guild shares by 9.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 904,162 shares of the company worth $12,685,000 after acquiring an additional 77,519 shares in the last quarter. 9.18% of the shares are currently held by institutional investors.

Guild Company Profile (Get a rating)

Guild Holdings Company, a mortgage company, originates, sells and services residential mortgages in the United States. The company operates approximately 200 branches with licenses in 48 states. It issues residential mortgage loans through retail channels and correspondents. The company was founded in 1960 and is based in San Diego, California.

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