Acacia Research Corp.-Acacia Technologies Given New $21.50 Price Target at JPMorgan Chase & Co. (ACTG)
JPMorgan Chase & Co. dropped their price objective on shares of Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) from $22.50 to $21.50 in a research note issued on Friday, Stock Ratings Network reports. JPMorgan Chase & Co.’s price objective suggests a potential upside of 54.01% from the company’s current price.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) opened at 13.96 on Friday. Acacia Research Corp.-Acacia Technologies has a 52 week low of $12.23 and a 52 week high of $31.29. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $17.24. The company’s market cap is $697.0 million.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the 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 announced a quarterly dividend, which is scheduled for Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, February 27th.
A number of other firms have also recently commented on ACTG. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Acacia Research Corp.-Acacia Technologies in a research note on Thursday. 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company 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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