NetScout Systems (NTCT) Cut to “Sell” at ValuEngine

ValuEngine cut shares of NetScout Systems (NASDAQ:NTCT) from a hold rating to a sell rating in a research report released on Monday.

NTCT has been the topic of a number of other research reports. Zacks Investment Research lowered NetScout Systems from a hold rating to a sell rating in a report on Thursday, August 2nd. BidaskClub raised NetScout Systems from a sell rating to a hold rating in a report on Wednesday, June 13th. Finally, Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the company a buy rating in a report on Monday, August 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $28.33.

Shares of NTCT stock opened at $22.37 on Monday. NetScout Systems has a 1-year low of $22.10 and a 1-year high of $33.50. The firm has a market cap of $2.03 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.30. The company has a current ratio of 2.00, a quick ratio of 1.90 and a debt-to-equity ratio of 0.29.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. NetScout Systems had a return on equity of 3.79% and a net margin of 4.28%. The firm had revenue of $205.11 million for the quarter, compared to analyst estimates of $210.47 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. NetScout Systems’s quarterly revenue was down 9.2% on a year-over-year basis. Equities analysts predict that NetScout Systems will post 0.88 EPS for the current fiscal year.

In other NetScout Systems news, Director Vincent J. Mullarkey sold 26,466 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $24.79, for a total value of $656,092.14. Following the sale, the director now owns 10,147 shares of the company’s stock, valued at $251,544.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincent J. Mullarkey sold 6,000 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $25.43, for a total value of $152,580.00. Following the completion of the sale, the director now owns 36,613 shares in the company, valued at $931,068.59. The disclosure for this sale can be found here. Insiders sold 40,466 shares of company stock worth $1,021,472 in the last three months. 3.93% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new stake in shares of NetScout Systems in the second quarter valued at $164,000. Hartford Investment Management Co. purchased a new stake in shares of NetScout Systems in the second quarter valued at $223,000. Pillar Pacific Capital Management LLC purchased a new stake in shares of NetScout Systems in the second quarter valued at $223,000. Tower Research Capital LLC TRC lifted its position in shares of NetScout Systems by 201.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,784 shares of the technology company’s stock valued at $232,000 after acquiring an additional 5,198 shares in the last quarter. Finally, Element Capital Management LLC purchased a new stake in shares of NetScout Systems in the first quarter valued at $261,000.

About NetScout Systems

NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies, and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.

Further Reading: Understanding Analyst Recommendations

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Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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