Actavis plc’s Top Pick Rating Reaffirmed at RBC Capital (ACT)
Actavis plc (NYSE:ACT)‘s stock had its “top pick” rating restated by research analysts at RBC Capital in a report released on Tuesday. They currently have a $259.00 price objective on the stock. RBC Capital’s price target indicates a potential upside of 17.01% from the company’s current price.
A number of other analysts have also recently weighed in on ACT. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Actavis plc in a research note on Monday. They set an “overweight” rating and a $300.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Actavis plc in a research note on Wednesday, June 18th. They set an “overweight” rating and a $246.00 price target on the stock. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Actavis plc in a research note on Tuesday, June 10th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $226.35.
Actavis plc (NYSE:ACT) traded up 0.86% during mid-day trading on Tuesday, hitting $223.26. 1,541,779 shares of the company’s stock traded hands. Actavis plc has a 52-week low of $118.92 and a 52-week high of $230.77. The stock’s 50-day moving average is $209.4 and its 200-day moving average is $196.. The company’s market cap is $38.947 billion.
Actavis plc (NYSE:ACT) last announced its earnings results on Wednesday, April 30th. The company reported $3.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.23 by $0.26. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter last year, the company posted $1.99 earnings per share. Actavis plc’s revenue was up 40.1% compared to the same quarter last year. On average, analysts predict that Actavis plc will post $13.63 earnings per share for the current fiscal year.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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