Activision Blizzard (NASDAQ:ATVI) Price Target Raised to $61.00

Activision Blizzard (NASDAQ:ATVI) had its target price increased by research analysts at SunTrust Banks from $59.00 to $61.00 in a report released on Monday, The Fly reports. The firm presently has a “buy” rating on the stock. SunTrust Banks’ target price would indicate a potential upside of 12.15% from the company’s current price.

Several other research firms have also weighed in on ATVI. Stephens upgraded shares of Activision Blizzard from an “equal” rating to a “weight” rating and increased their price objective for the stock from $52.00 to $65.00 in a research note on Thursday, September 5th. Macquarie set a $58.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a report on Friday, October 18th. Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, November 12th. Barclays set a $63.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and a consensus price target of $60.16.

Shares of ATVI opened at $54.39 on Monday. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $57.52. The company has a current ratio of 3.43, a quick ratio of 3.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $42.42 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.42 and a beta of 0.84. The stock has a 50 day moving average of $54.45 and a 200-day moving average of $50.40.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue was down 27.1% compared to the same quarter last year. On average, sell-side analysts predict that Activision Blizzard will post 2.02 earnings per share for the current fiscal year.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total transaction of $280,889.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Collister Johnson sold 3,800 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $52.43, for a total value of $199,234.00. Following the completion of the sale, the chief operating officer now owns 280,983 shares in the company, valued at approximately $14,731,938.69. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ATVI. Vanguard Group Inc. increased its position in shares of Activision Blizzard by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,097,169 shares of the company’s stock worth $2,694,986,000 after buying an additional 599,719 shares during the period. BlackRock Inc. grew its position in shares of Activision Blizzard by 3.4% in the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock worth $2,285,699,000 after buying an additional 1,613,122 shares during the last quarter. Invesco Ltd. lifted its stake in Activision Blizzard by 7.1% in the second quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock worth $912,605,000 after acquiring an additional 1,289,300 shares during the period. Northern Trust Corp boosted its holdings in Activision Blizzard by 2.9% in the second quarter. Northern Trust Corp now owns 9,522,155 shares of the company’s stock valued at $449,447,000 after acquiring an additional 270,465 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Activision Blizzard during the 2nd quarter valued at about $422,191,000. 88.80% of the stock is owned by institutional investors and hedge funds.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

Featured Story: Net Margin – Understanding the Different Kinds of Profit

The Fly

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.