ADT (NYSE:ADT) PT Raised to $9.00

ADT (NYSE:ADT) had its price target increased by research analysts at Royal Bank of Canada from $8.00 to $9.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the security and automation business’ stock. Royal Bank of Canada’s price target suggests a potential upside of 14.07% from the stock’s previous close.

Separately, The Goldman Sachs Group increased their price target on shares of ADT from $8.20 to $9.20 and gave the stock a “buy” rating in a report on Friday.

ADT Stock Performance

ADT traded down $0.25 on Friday, hitting $7.89. 8,421,941 shares of the company traded hands, compared to its average volume of 5,068,611. The company has a 50 day moving average of $7.18 and a 200-day moving average of $7.15. ADT has a 12-month low of $5.53 and a 12-month high of $8.25. The stock has a market capitalization of $7.28 billion, a PE ratio of 11.27 and a beta of 1.53. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.98.

ADT (NYSE:ADT) last issued its quarterly earnings results on Thursday, October 24th. The security and automation business reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. ADT had a return on equity of 15.45% and a net margin of 13.83%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts anticipate that ADT will post 0.62 earnings per share for the current year.

Institutional Trading of ADT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Abich Financial Wealth Management LLC purchased a new position in ADT in the third quarter valued at about $70,000. Semanteon Capital Management LP acquired a new stake in shares of ADT in the 3rd quarter worth approximately $190,000. Highland Capital Management LLC raised its holdings in ADT by 10.1% during the third quarter. Highland Capital Management LLC now owns 27,643 shares of the security and automation business’s stock worth $200,000 after purchasing an additional 2,542 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in ADT during the third quarter worth $249,000. Finally, International Assets Investment Management LLC purchased a new stake in ADT during the third quarter worth $157,000. Institutional investors and hedge funds own 87.22% of the company’s stock.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.