Actavis Lowered to “Hold” at TheStreet (ACT)
Actavis (NYSE:ACT) was downgraded by equities research analysts at TheStreet to a “hold” rating in a research note issued to investors on Thursday, American Banking & Market News reports.
Several other analysts have also recently commented on the stock. Analysts at Argus reiterated a “buy” rating on shares of Actavis (NYSE:ACT) in a research note to investors on Tuesday. They now have a $150.00 price target on the stock. Separately, analysts at Leerink Swann raised their price target on shares of Actavis (NYSE:ACT) to $165.00 in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Actavis (NYSE:ACT) in a research note to investors on Wednesday, September 25th. They now have a $146.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $144.50.
Actavis (NYSE:ACT) traded down 0.96% during mid-day trading on Thursday, hitting $144.98. 905,766 shares of the company’s stock traded hands. Actavis has a 52 week low of $81.73 and a 52 week high of $147.48. The stock has a 50-day moving average of $137.3 and a 200-day moving average of $121.4. The company’s market cap is $19.304 billion.
Actavis (NYSE:ACT) last released its earnings data on Thursday, July 25th. The company reported $2.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.00 by $0.01. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. The company’s quarterly revenue was up 46.8% on a year-over-year basis. Analysts expect that Actavis will post $8.34 EPS for the current fiscal year.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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