Acacia Research Corp.-Acacia Technologies Rating Lowered to Underperform at Zacks (ACTG)
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Thursday, American Banking News reports. They currently have a $19.70 target price on the stock. Zacks‘ price objective points to a potential upside of 0.41% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Standpoint Research initiated coverage on shares of Acacia Research Corp.-Acacia Technologies in a research note to investors on Tuesday, September 17th. They set a “buy” rating and a $33.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of Acacia Research Corp.-Acacia Technologies from $28.00 to $23.00 in a research note to investors on Tuesday, July 23rd. They now have an “equal weight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Acacia Research Corp.-Acacia Technologies from $40.00 to $34.00 in a research note to investors on Friday, July 19th. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.43.
Shares of Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) traded down 5.26% during mid-day trading on Thursday, hitting $19.62. 1,477,812 shares of the company’s stock traded hands. Acacia Research Corp.-Acacia Technologies has a 52-week low of $19.60 and a 52-week high of $32.59. The stock’s 50-day moving average is $22.05 and its 200-day moving average is $23.75. The company’s market cap is $980.1 million.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) last released its earnings data on Thursday, October 17th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.31. The company had revenue of $15.52 million for the quarter, compared to the consensus estimate of $34.94 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 55.5% on a year-over-year basis. Analysts expect that Acacia Research Corp.-Acacia Technologies will post $1.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 29th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.55%.
Acacia Research Corporation, through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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