Safeguard Scientifics (NYSE:SFE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “

Several other brokerages have also recently issued reports on SFE. ValuEngine upgraded shares of Safeguard Scientifics from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. First Analysis downgraded shares of Safeguard Scientifics from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $18.00 to $17.00 in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.13.

Shares of SFE stock opened at $9.00 on Wednesday. Safeguard Scientifics has a 12-month low of $8.95 and a 12-month high of $14.40. The company has a debt-to-equity ratio of 1.60, a quick ratio of 5.03 and a current ratio of 5.03. The company has a market capitalization of $192.04 million, a P/E ratio of -2.07 and a beta of 1.28.

Safeguard Scientifics (NYSE:SFE) last issued its earnings results on Thursday, July 26th. The asset manager reported ($1.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($0.13). equities analysts predict that Safeguard Scientifics will post -0.79 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in Safeguard Scientifics by 19.1% in the first quarter. Prudential Financial Inc. now owns 43,061 shares of the asset manager’s stock worth $528,000 after acquiring an additional 6,900 shares during the period. Legal & General Group Plc raised its position in Safeguard Scientifics by 12.2% in the first quarter. Legal & General Group Plc now owns 77,044 shares of the asset manager’s stock worth $944,000 after acquiring an additional 8,400 shares during the period. Wells Fargo & Company MN raised its position in Safeguard Scientifics by 58.9% in the first quarter. Wells Fargo & Company MN now owns 24,192 shares of the asset manager’s stock worth $296,000 after acquiring an additional 8,964 shares during the period. SG Americas Securities LLC bought a new position in Safeguard Scientifics in the second quarter worth approximately $141,000. Finally, New York State Common Retirement Fund raised its position in Safeguard Scientifics by 6.6% in the first quarter. New York State Common Retirement Fund now owns 189,010 shares of the asset manager’s stock worth $2,315,000 after acquiring an additional 11,700 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.

About Safeguard Scientifics

Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings. It initially invests in a Series A-C round and opportunistically in a seed round.

Recommended Story: How to Invest in an Index Fund

Get a free copy of the Zacks research report on Safeguard Scientifics (SFE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Safeguard Scientifics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safeguard Scientifics and related companies with MarketBeat.com's FREE daily email newsletter.