Morningstar Gives “BBB” Credit Rating to Actavis plc (ACT)
Actavis plc (NYSE:ACT) has earned a “BBB” credit rating from analysts at Morningstar. The credit rating agency’s “BBB” rating suggests that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
A number of other firms have also recently commented on ACT. Analysts at Argus downgraded shares of Actavis plc to a “buy” rating in a research note on Tuesday, August 12th. They now have a $202.72 price target on the stock, down previously from $255.00. Separately, analysts at Leerink Swann reiterated an “outperform” rating on shares of Actavis plc in a research note on Thursday, August 7th. They now have a $260.00 price target on the stock, down previously from $269.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Actavis plc in a research note on Wednesday, August 6th. They now have a $225.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Actavis plc has a consensus rating of “Buy” and an average target price of $233.60.
Actavis plc (NYSE:ACT) traded up 0.17% on Monday, hitting $226.98. 845,746 shares of the company’s stock traded hands. Actavis plc has a one year low of $134.75 and a one year high of $230.77. The stock has a 50-day moving average of $216.9 and a 200-day moving average of $211.3. The company has a market cap of $59.982 billion and a price-to-earnings ratio of 594.72.
Actavis plc (NYSE:ACT) last announced its earnings results on Tuesday, August 5th. The company reported $3.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.36 by $0.06. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. The company’s quarterly revenue was up 34.0% on a year-over-year basis. Analysts expect that Actavis plc will post $13.26 EPS 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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