Jefferies Reiterates a Hold Rating on Waddell & Reed

By Jason Carr

Jefferies analyst Gerald O’Hara reiterated a Hold rating on Waddell & Reed (NYSE: WDR) today and set a price target of $18. The company’s shares closed yesterday at $19.20.

According to TipRanks.com, O’Hara is a 5-star analyst with an average return of 34.5% and a 92.3% success rate. O’Hara covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and WisdomTree Investments.

Currently, the analyst consensus on Waddell & Reed is Moderate Sell and the average price target is $17.88, representing a -6.9% downside.

In a report issued on June 14, KBW also upgraded the stock to Hold with a $17.75 price target.

Based on Waddell & Reed’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $287 million and quarterly net profit of $33.06 million. In comparison, last year the company earned revenue of $324 million and had a net profit of $36.97 million.

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Waddell & Reed Financial, Inc. provides investment advisory, investment management, investment product underwriting, distribution and administrative services. It operates its business through three distinct distribution channels: Advisors channel, Wholesale channel and Institutional channel.