Acacia Research Corp Price Target Increased to $19.00 by Analysts at Barclays (ACTG)
Stock analysts at Barclays hoisted their price target on shares of Acacia Research Corp (NASDAQ:ACTG) from $15.00 to $19.00 in a report issued on Tuesday. The firm currently has an “equal weight” rating on the stock. Barclays’ price objective points to a potential upside of 8.26% from the stock’s previous close.
Acacia Research Corp (NASDAQ:ACTG) traded down 3.84% during mid-day trading on Tuesday, hitting $17.54. The stock had a trading volume of 769,663 shares. Acacia Research Corp has a 1-year low of $12.23 and a 1-year high of $23.87. The stock has a 50-day moving average of $16.45 and a 200-day moving average of $15.54. The company’s market cap is $851.4 million.
Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.10. The company had revenue of $50.07 million for the quarter, compared to the consensus estimate of $15.13 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 116.8% on a year-over-year basis. On average, analysts predict that Acacia Research Corp will post $0.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, August 31st. Shareholders of record on Monday, August 4th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, July 31st.
A number of other analysts have also recently weighed in on ACTG. Analysts at Robert W. Baird raised their price target on shares of Acacia Research Corp from $15.00 to $19.00 in a research note on Tuesday. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks downgraded shares of Acacia Research Corp from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 22nd. They now have a $14.10 price target on the stock. Finally, analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Monday, June 23rd. They now have a $17.40 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $21.60.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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