ADT Inc (NYSE:ADT) shares shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $8.82 and last traded at $8.70. 4,370,000 shares changed hands during trading, an increase of 3% from the average session volume of 4,229,236 shares. The stock had previously closed at $8.26.
Several research firms have issued reports on ADT. Barclays reduced their price objective on ADT from $17.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. ValuEngine downgraded ADT from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Zacks Investment Research raised ADT from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, April 17th. Finally, Morgan Stanley reduced their price objective on ADT from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, March 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ADT presently has a consensus rating of “Buy” and an average price target of $15.00.
The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $6.22 billion and a PE ratio of -24.86.
ADT (NYSE:ADT) last posted its quarterly earnings data on Wednesday, May 9th. The security and automation business reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. The business’s quarterly revenue was up 5.4% on a year-over-year basis. equities research analysts predict that ADT Inc will post 0.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Monday, June 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, June 22nd. ADT’s dividend payout ratio (DPR) is currently -40.00%.
In related news, Director Andrew Africk purchased 130,000 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were bought at an average price of $7.46 per share, with a total value of $969,800.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have recently bought and sold shares of the company. Comerica Bank acquired a new position in shares of ADT in the 1st quarter valued at $100,000. Wells Fargo & Company MN acquired a new position in shares of ADT in the 1st quarter valued at $126,000. Envestnet Asset Management Inc. acquired a new position in shares of ADT in the 1st quarter valued at $149,000. State of Wisconsin Investment Board acquired a new position in shares of ADT in the 1st quarter valued at $168,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of ADT in the 1st quarter valued at $174,000. 97.78% of the stock is currently owned by institutional investors.
ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of burglary, video, access control, fire and smoke alarm, and medical alert solutions to residential, commercial, and multi-site customers. The company primarily offers professionally monitored security solutions; and interactive home and business automation solutions that are designed to control access, react to movement, and sense carbon monoxide, flooding, and changes in temperature or other environmental conditions, as well as address personal emergencies, such as injuries, medical emergencies, or incapacitation.
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