Morgan Stanley Issues Positive Forecast for ADT (NYSE:ADT) Stock Price

ADT (NYSE:ADT) had its price target hoisted by research analysts at Morgan Stanley from $8.50 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the security and automation business’ stock. Morgan Stanley’s price target indicates a potential upside of 25.00% from the company’s previous close.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group upped their price objective on ADT from $8.20 to $9.20 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of ADT from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th.

ADT Stock Performance

Shares of NYSE ADT opened at $7.20 on Thursday. The company has a market cap of $6.53 billion, a P/E ratio of 7.83 and a beta of 1.49. ADT has a 52-week low of $6.02 and a 52-week high of $8.25. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.64 and a current ratio of 0.81. The firm’s fifty day moving average is $7.38 and its two-hundred day moving average is $7.35.

ADT (NYSE:ADT) last issued its quarterly earnings data on Thursday, October 24th. The security and automation business reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. ADT had a return on equity of 17.77% and a net margin of 18.18%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. As a group, analysts anticipate that ADT will post 0.7 EPS for the current fiscal year.

Institutional Trading of ADT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in ADT by 20.3% in the 3rd quarter. Pacer Advisors Inc. now owns 30,941,509 shares of the security and automation business’s stock worth $223,707,000 after purchasing an additional 5,222,972 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of ADT by 911.6% in the third quarter. BNP Paribas Financial Markets now owns 195,810 shares of the security and automation business’s stock worth $1,416,000 after buying an additional 176,454 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ADT during the 2nd quarter worth approximately $3,226,000. The Manufacturers Life Insurance Company boosted its holdings in ADT by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 170,883 shares of the security and automation business’s stock valued at $1,299,000 after acquiring an additional 6,078 shares during the period. Finally, SG Americas Securities LLC bought a new position in ADT in the 2nd quarter valued at $1,143,000. Hedge funds and other institutional investors 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.