ADT Corp Price Target Raised to $43.00 at Credit Suisse (ADT)
Analysts at Credit Suisse increased their price target on shares of ADT Corp (NYSE:ADT) from $42.00 to $43.00 in a research report issued to clients and investors on Monday, American Banking News reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price indicates a potential upside of 33.75% from the company’s current price.
ADT Corp (NYSE:ADT) traded up 0.66% during mid-day trading on Monday, hitting $32.15. 2,151,278 shares of the company’s stock traded hands. ADT Corp has a one year low of $27.93 and a one year high of $46.05. The stock’s 50-day moving average is $30.51 and its 200-day moving average is $35.28. The company has a market cap of $5.602 billion and a P/E ratio of 18.49.
ADT Corp (NYSE:ADT) last announced its earnings results on Wednesday, April 30th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.05. The company had revenue of $837.00 million for the quarter, compared to the consensus estimate of $849.25 million. During the same quarter last year, the company posted $0.41 earnings per share. ADT Corp’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that ADT Corp will post $1.88 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of ADT Corp in a research note on Thursday, May 1st. They now have a $32.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of ADT Corp from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. Finally, analysts at Morgan Stanley cut their price target on shares of ADT Corp from $35.00 to $33.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. ADT Corp has a consensus rating of “Hold” and an average price target of $40.71.
In other ADT Corp news, CEO Naren Gursahaney bought 10,000 shares of the stock on the open market in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $30.33 per share, with a total value of $303,300.00. Following the completion of the purchase, the chief executive officer now directly owns 263,281 shares of the company’s stock, valued at approximately $7,985,313. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
The ADT Corporation (NYSE:ADT) is a provider of electronic security, interactive home and business automation, and monitoring services for residences and small businesses in the United States and Canada.
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