Phillips Edison & Company, Inc. (NASDAQ:PECO) Given New $40.00 Price Target at JPMorgan Chase & Co.

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price cut by stock analysts at JPMorgan Chase & Co. from $41.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 9.29% from the stock’s previous close.

Several other research firms also recently weighed in on PECO. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Compass Point boosted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $36.60 on Tuesday. The company’s 50-day moving average is $38.58 and its 200-day moving average is $36.73. The stock has a market capitalization of $4.49 billion, a PE ratio of 79.57, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS. On average, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brass Tax Wealth Management Inc. bought a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth $378,000. Synovus Financial Corp purchased a new stake in Phillips Edison & Company, Inc. during the third quarter worth about $376,000. Arete Wealth Advisors LLC raised its position in Phillips Edison & Company, Inc. by 3.1% in the third quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock worth $1,064,000 after acquiring an additional 866 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Phillips Edison & Company, Inc. by 3.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock valued at $4,131,000 after acquiring an additional 3,797 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after acquiring an additional 19,205 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.