RideNow Group (NASDAQ:RDNW) Cut to “Hold” at Wall Street Zen
by Amy Steele · The Cerbat GemWall Street Zen downgraded shares of RideNow Group (NASDAQ:RDNW – Free Report) from a buy rating to a hold rating in a report published on Saturday.
A number of other research analysts have also issued reports on RDNW. DA Davidson reissued a “neutral” rating and issued a $6.00 target price on shares of RideNow Group in a report on Tuesday, March 10th. Robert W. Baird boosted their target price on RideNow Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RideNow Group in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $6.50.
Read Our Latest Stock Report on RideNow Group
RideNow Group Stock Down 3.8%
RDNW opened at $6.52 on Friday. The firm has a market cap of $250.43 million, a price-to-earnings ratio of -4.69 and a beta of 1.12. The business’s 50 day moving average is $6.19 and its two-hundred day moving average is $5.35. RideNow Group has a 52 week low of $1.46 and a 52 week high of $7.19.
RideNow Group (NASDAQ:RDNW – Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $256.90 million during the quarter, compared to analyst estimates of $267.08 million. RideNow Group had a negative net margin of 4.84% and a negative return on equity of 2,628.57%. Equities analysts expect that RideNow Group will post -0.89 EPS for the current fiscal year.
Institutional Trading of RideNow Group
Institutional investors have recently bought and sold shares of the company. Union Square Park Capital Management LLC acquired a new stake in shares of RideNow Group during the fourth quarter valued at $8,763,000. Geode Capital Management LLC acquired a new stake in shares of RideNow Group during the fourth quarter valued at $1,477,000. Deutsche Bank AG acquired a new stake in shares of RideNow Group during the fourth quarter valued at $1,004,000. Millennium Management LLC acquired a new stake in shares of RideNow Group during the fourth quarter valued at $927,000. Finally, First Financial Bankshares Inc acquired a new stake in shares of RideNow Group during the fourth quarter valued at $554,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.
RideNow Group Company Profile
RideNow Group, Inc (NASDAQ: RDNW) is a leading U.S. retailer of powersports vehicles, offering both new and pre-owned inventory to enthusiasts and recreational riders. The company’s dealerships carry a diverse lineup of motorcycles, all-terrain vehicles (ATVs), side-by-sides, personal watercraft and snowmobiles from major manufacturers. In addition to vehicle sales, RideNow Group provides comprehensive service and maintenance, aftermarket parts and accessories and a range of financing and protection plans tailored to powersports customers.
Founded in 2004 and headquartered in Houston, Texas, RideNow Group has grown through a combination of organic expansion and strategic acquisitions.