Morgan Stanley Cuts ADT (NYSE:ADT) Price Target to $9.00

ADT (NYSE:ADT) had its target price cut by Morgan Stanley from $9.50 to $9.00 in a research note released on Wednesday morning, MarketBeat.com reports. They currently have an equal weight rating on the security and automation business’ stock.

Several other analysts also recently commented on the stock. Wall Street Zen downgraded shares of ADT from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of ADT in a report on Monday. Zacks Research lowered ADT from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Citigroup lifted their price target on ADT from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.25.

ADT Stock Performance

ADT opened at $8.12 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.99. ADT has a 12-month low of $6.71 and a 12-month high of $8.94. The business has a 50 day moving average of $8.29 and a 200-day moving average of $8.44. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 11.76 and a beta of 0.94.

ADT (NYSE:ADT) last posted its quarterly earnings results on Friday, April 22nd. The security and automation business reported ($0.12) earnings per share for the quarter. ADT had a net margin of 12.52% and a return on equity of 18.96%. The business had revenue of $1.31 billion during the quarter. On average, equities research analysts expect that ADT will post 0.7 earnings per share for the current year.

ADT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th will be paid a dividend of $0.055 per share. The ex-dividend date is Thursday, December 11th. This represents a $0.22 annualized dividend and a yield of 2.7%. ADT’s dividend payout ratio is presently 31.88%.

Hedge Funds Weigh In On ADT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in ADT in the third quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in shares of ADT by 69.5% in the second quarter. GAMMA Investing LLC now owns 3,240 shares of the security and automation business’s stock worth $27,000 after acquiring an additional 1,329 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of ADT in the 3rd quarter valued at approximately $28,000. IFP Advisors Inc grew its holdings in shares of ADT by 1,759.1% during the 3rd quarter. IFP Advisors Inc now owns 3,997 shares of the security and automation business’s stock valued at $35,000 after purchasing an additional 3,782 shares during the last quarter. Finally, WPG Advisers LLC increased its position in ADT by 54.3% during the 3rd quarter. WPG Advisers LLC now owns 4,091 shares of the security and automation business’s stock worth $36,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 87.22% of the company’s stock.

About ADT

ADT Inc is a leading provider of security and automation solutions for residential and commercial customers. The company offers a comprehensive suite of products and services, including intrusion detection systems, video surveillance, fire and carbon monoxide monitoring, and integrated smart home automation platforms. Through professional installation, continuous monitoring, and a network of 24/7 monitoring centers, ADT helps customers protect their properties, assets and loved ones.

Founded in 1874 as the American District Telegraph Company, ADT has evolved from one of the first telegraph-based alarm services into a modern security technology enterprise.