Acacia Research Corp.-Acacia Technologies Price Target Cut to $15.00 (ACTG)
Barclays dropped their target price on shares of Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) from $19.00 to $15.00 in a research note issued on Friday, AnalystRatings.NET reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective suggests a potential upside of 0.67% from the stock’s previous close.
Shares of Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) traded down 8.46% during mid-day trading on Friday, hitting $13.64. 3,467,204 shares of the company’s stock traded hands. Acacia Research Corp.-Acacia Technologies has a 52-week low of $12.23 and a 52-week high of $32.59. The stock has a 50-day moving average of $14.10 and a 200-day moving average of $17.31. The company’s market cap is $681.0 million.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.37. The company had revenue of $15.07 million for the quarter, compared to the consensus estimate of $25.29 million. Analysts expect that Acacia Research Corp.-Acacia Technologies will post $1.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.36%.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Acacia Research Corp.-Acacia Technologies from $22.50 to $21.50 in a research note on Friday. Separately, analysts at Cowen and Company reiterated an “outperform” rating on shares of Acacia Research Corp.-Acacia Technologies in a research note on Thursday. Finally, analysts at Zacks upgraded shares of Acacia Research Corp.-Acacia Technologies from an “underperform” rating to a “neutral” rating in a research note on Monday, February 10th. They now have a $13.90 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.85.
Acacia Research Corporation, through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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