CBL and Associates Gets a Hold Rating from Barclays

By Carrie Williams

In a report issued on June 20, Ross L Smotrich from Barclays maintained a Hold rating on CBL and Associates (NYSE: CBL), with a price target of $9. The company’s shares closed yesterday at $8.29, close to its 52-week low of $7.15.

According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 9.1% and a 67.8% success rate. Smotrich covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, Apartment Investment & Management, and General Growth Properties Inc.

CBL and Associates has an analyst consensus of Moderate Buy, with a price target consensus of $10.

Based on CBL and Associates’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $237 million and quarterly net profit of $28.13 million. In comparison, last year the company earned revenue of $262 million and had a net profit of $40.07 million.

Based on the recent corporate insider activity of 35 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 CBL in relation to earlier this year. Earlier this month, Farzana Mitchell, the Exec VP – CFO of CBL bought 585 shares for a total of $9,992.

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.

CBL & Associates Properties, Inc. is a real estate investment trust, which owns and operates retail properties. The company engages in owning, developing, acquiring, leasing, managing and operating regional shopping malls, open-air centers, community centers and office properties. Its properties include Malls, Associated Centers, Community Centers, Office Buildings, Construction Properties and Mortgages. The company was founded on July 13, 1993 and is headquartered in Chattanooga, TN.,000DGC-E