ADT (NYSE:ADT) Downgraded by Bank of America to Neutral

ADT (NYSE:ADT) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $9.50 target price on the security and automation business’ stock. Bank of America‘s price objective would suggest a potential upside of 8.82% from the stock’s previous close.

A number of other brokerages also recently weighed in on ADT. ValuEngine downgraded shares of ADT from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada set a $10.00 price target on shares of ADT and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Imperial Capital boosted their price objective on shares of ADT from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. TheStreet raised shares of ADT from a “d+” rating to a “c-” rating in a research report on Friday, October 18th. Finally, Zacks Investment Research upgraded shares of ADT from a “strong sell” rating to a “hold” rating in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $8.64.

Shares of ADT stock opened at $8.73 on Monday. ADT has a 12 month low of $4.25 and a 12 month high of $9.70. The firm has a market cap of $6.87 billion, a PE ratio of -54.56 and a beta of 2.46. The stock has a 50 day moving average of $8.11 and a 200-day moving average of $6.43. The company has a quick ratio of 0.80, a current ratio of 0.89 and a debt-to-equity ratio of 2.60.

ADT (NYSE:ADT) last announced its quarterly earnings data on Tuesday, November 12th. The security and automation business reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.23). ADT had a negative return on equity of 1.78% and a negative net margin of 9.99%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The company’s revenue was up 13.3% on a year-over-year basis. As a group, equities analysts predict that ADT will post 0.89 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of ADT. Millennium Management LLC boosted its stake in ADT by 18.5% during the third quarter. Millennium Management LLC now owns 264,925 shares of the security and automation business’s stock worth $1,661,000 after buying an additional 41,420 shares in the last quarter. Silver Rock Financial LP acquired a new position in shares of ADT in the 3rd quarter valued at $12,751,000. Squarepoint Ops LLC raised its stake in shares of ADT by 108.5% in the 3rd quarter. Squarepoint Ops LLC now owns 502,625 shares of the security and automation business’s stock valued at $3,151,000 after buying an additional 261,558 shares in the last quarter. Phocas Financial Corp. acquired a new position in shares of ADT in the 3rd quarter valued at $4,606,000. Finally, Apollo Management Holdings L.P. lifted its holdings in shares of ADT by 0.6% during the 3rd quarter. Apollo Management Holdings L.P. now owns 631,310,605 shares of the security and automation business’s stock worth $3,958,317,000 after acquiring an additional 3,641,196 shares during the period. 98.17% of the stock is owned by hedge funds and other institutional investors.

ADT Company Profile

ADT Inc provides security and automation solutions for homes and businesses in the United States and Canada. It provides a range of fire detection, fire suppression, video surveillance, and access control systems to residential, commercial, and multi-site customers. The company primarily offers monitored security and automation solutions, including the installation and monitoring of security and premises automation systems designed to detect intrusion, control access, sense movement, smoke, fire, carbon monoxide, flooding, temperature, and other environmental conditions and hazards; and address personal emergencies such as injuries, medical emergencies, or incapacitation.

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Analyst Recommendations for ADT (NYSE:ADT)

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