HC2 Holdings (HCHC) Gets a Buy Rating from B.Riley FBR

By Austin Angelo

In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on HC2 Holdings (HCHCResearch Report), with a price target of $13.00. The company’s shares closed last Monday at $2.35, close to its 52-week low of $1.90.

According to TipRanks.com, Sherbetchyan ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.4% and a 38.9% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Vishay Precision Group, S&W Seed Company, and Ferroglobe PLC.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HC2 Holdings with a $13.00 average price target.

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Based on HC2 Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $9 million. In comparison, last year the company had a net profit of $138 million.

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HC2 Holdings, Inc. engages in the acquisition and investment activities. It operates through following business segments: Construction, Marine Services, Insurance, Energy, Telecommunications, Life Sciences, and Other. The Construction segment is a structural steel fabricator and erector in the United States.