Acacia Research Corp PT Raised to $19.00 (ACTG)
Equities research analysts at Robert W. Baird increased their price objective on shares of Acacia Research Corp (NASDAQ:ACTG) from $15.00 to $19.00 in a research note issued to investors on Tuesday. The firm currently has an “equal weight” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 4.17% from the company’s current price.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded down 1.70% during mid-day trading on Tuesday, hitting $17.93. 287,839 shares of the company’s stock traded hands. Acacia Research Corp has a 52-week low of $12.23 and a 52-week 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 $870.4 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 2.74%.
Other equities research analysts have also recently issued reports about the stock. 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $20.93.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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