Needham & Company LLC Reaffirms Buy Rating for Donnelley Financial Solutions (NYSE:DFIN)

Donnelley Financial Solutions (NYSE:DFIN)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They presently have a $60.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.53% from the stock’s previous close.

A number of other brokerages have also recently weighed in on DFIN. Zacks Research cut shares of Donnelley Financial Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings raised Donnelley Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Finally, Wall Street Zen cut Donnelley Financial Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Donnelley Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Donnelley Financial Solutions Price Performance

Shares of NYSE DFIN opened at $48.57 on Monday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 33.50 and a beta of 0.71. Donnelley Financial Solutions has a 52 week low of $36.11 and a 52 week high of $56.26. The company’s 50-day moving average price is $48.59 and its 200 day moving average price is $45.90. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51.

Donnelley Financial Solutions (NYSE:DFIN) last posted its earnings results on Thursday, July 30th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. Donnelley Financial Solutions had a net margin of 4.53% and a return on equity of 25.82%. The firm had revenue of $224.20 million during the quarter, compared to the consensus estimate of $221.40 million. During the same period last year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts forecast that Donnelley Financial Solutions will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Leo Binz acquired 5,780 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $47.75 per share, with a total value of $275,995.00. Following the purchase, the director directly owned 24,704 shares in the company, valued at $1,179,616. The trade was a 30.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Donnelley Financial Solutions

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Donnelley Financial Solutions during the 2nd quarter valued at $165,182,000. Alberta Investment Management Corp acquired a new stake in Donnelley Financial Solutions during the second quarter worth about $44,157,000. Rice Hall James & Associates LLC raised its holdings in shares of Donnelley Financial Solutions by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 780,037 shares of the company’s stock worth $36,771,000 after purchasing an additional 14,098 shares during the period. Royce & Associates LP raised its holdings in shares of Donnelley Financial Solutions by 36.0% in the 4th quarter. Royce & Associates LP now owns 590,136 shares of the company’s stock worth $27,553,000 after purchasing an additional 156,059 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Donnelley Financial Solutions in the 2nd quarter valued at about $26,510,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.

Donnelley Financial Solutions Company Profile

Donnelley Financial Solutions, Inc (NYSE: DFIN) provides software and technology-enabled services for companies and investment firms involved in public and private capital markets. Its solutions are designed to help clients prepare, manage, file and distribute financial and regulatory information while supporting compliance and investor communications.

The company’s offerings include SEC reporting and compliance software, transaction and filing services, financial communication solutions, and technology for investment companies and alternative investment managers.