Western Digital Corp.’s Hold Rating Reaffirmed at Barclays (WDC)
Western Digital Corp. (NYSE:WDC)‘s stock had its “hold” rating restated by investment analysts at Barclays in a note issued to investors on Friday, AmericanBankingNews.com reports. They currently have a $75.00 price target on the stock. Barclays’ price target would suggest a potential upside of 3.26% from the company’s current price.
WDC has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Western Digital Corp. in a research note to investors on Friday. They now have a $70.00 price target on the stock. Separately, analysts at FBN Securities downgraded shares of Western Digital Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday. Finally, analysts at Lazard Capital Markets raised their price target on shares of Western Digital Corp. to $80.00 in a research note to investors on Friday. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $74.14.
Shares of Western Digital Corp. (NYSE:WDC) traded up 2.96% during mid-day trading on Friday, hitting $72.63. 3,249,933 shares of the company’s stock traded hands. Western Digital Corp. has a one year low of $32.25 and a one year high of $70.61. The stock has a 50-day moving average of $64.9 and a 200-day moving average of $59.29. The company has a market cap of $17.213 billion and a price-to-earnings ratio of 17.72.
Western Digital Corp. (NYSE:WDC) last released its earnings data on Thursday, October 24th. The company reported $2.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $2.05. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company posted $2.36 earnings per share. Western Digital Corp.’s revenue was down 5.7% compared to the same quarter last year.
In other Western Digital Corp. news, Insider Michael D. Cordano sold 2,860 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $71.80, for a total value of $205,348.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Western Digital Corporation (NYSE:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.
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