Seagate PT Raised to $50.00 (STX)
Equities researchers at FBN Securities raised their price target on shares of Seagate (NYSE:STX) from $45.00 to $50.00 in a research report issued on Tuesday, ARN reports. FBN Securities’ price objective would indicate a potential upside of 11.63% from the company’s current price.
STX has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Seagate in a research note to investors on Thursday, October 3rd. They now have a $48.00 price target on the stock. Separately, analysts at Pacific Crest upgraded shares of Seagate from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, October 2nd. They now have a $53.00 price target on the stock. Finally, analysts at Cross Research upgraded shares of Seagate from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 19th. They now have a $50.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.81.
Seagate (NYSE:STX) traded down 0.82% during mid-day trading on Tuesday, hitting $44.79. The stock had a trading volume of 4,678,460 shares. Seagate has a one year low of $24.90 and a one year high of $47.82. The stock’s 50-day moving average is $41.18 and its 200-day moving average is $41.11. The company has a market cap of $15.982 billion and a P/E ratio of 9.39.
Seagate (NYSE:STX) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company posted $2.41 earnings per share. Seagate’s revenue was down 23.6% compared to the same quarter last year. Analysts expect that Seagate will post $5.31 EPS for the current fiscal year.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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