Netgear Inc. (NTGR) Stock Rating Upgraded by Vetr Inc.
Netgear Inc. (NASDAQ:NTGR) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $60.73 price target on the stock. Vetr‘s target price would indicate a potential upside of 9.92% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $47.50 target price on shares of Netgear in a research note on Thursday, June 9th. Wunderlich started coverage on shares of Netgear in a research note on Wednesday, June 8th. They issued a “buy” rating and a $55.00 target price for the company. BWS Financial upped their target price on shares of Netgear from $50.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research cut shares of Netgear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Citigroup Inc. cut shares of Netgear to a “neutral” rating and set a $47.50 price target for the company. in a report on Tuesday, July 12th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Netgear has a consensus rating of “Hold” and a consensus price target of $53.36.
Netgear (NASDAQ:NTGR) opened at 55.25 on Tuesday. The firm has a 50-day moving average of $57.64 and a 200-day moving average of $48.34. Netgear has a 52-week low of $31.19 and a 52-week high of $60.82. The stock has a market capitalization of $1.81 billion, a PE ratio of 26.28 and a beta of 1.92.
Netgear (NASDAQ:NTGR) last issued its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.12. Netgear had a net margin of 5.25% and a return on equity of 12.06%. The firm earned $311.66 million during the quarter, compared to the consensus estimate of $298.87 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Netgear will post $2.96 EPS for the current year.
In related news, SVP Patrick J. Collins III sold 11,061 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $48.91, for a total transaction of $540,993.51. Following the completion of the transaction, the senior vice president now owns 20,753 shares in the company, valued at $1,015,029.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Werdann sold 1,348 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $49.54, for a total transaction of $66,779.92. Following the transaction, the senior vice president now owns 24,750 shares of the company’s stock, valued at approximately $1,226,115. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTGR. Glenmede Trust Co. NA boosted its stake in shares of Netgear by 6,330.6% in the first quarter. Glenmede Trust Co. NA now owns 11,575 shares of the company’s stock worth $466,000 after buying an additional 11,395 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Netgear by 5.7% in the first quarter. Aperio Group LLC now owns 8,871 shares of the company’s stock worth $358,000 after buying an additional 476 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Netgear during the first quarter worth approximately $216,000. TIAA CREF Investment Management LLC boosted its stake in shares of Netgear by 5.8% in the first quarter. TIAA CREF Investment Management LLC now owns 231,418 shares of the company’s stock worth $9,342,000 after buying an additional 12,748 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Netgear by 31.1% in the first quarter. Teachers Advisors Inc. now owns 279,231 shares of the company’s stock worth $11,273,000 after buying an additional 66,305 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.
Netgear Company Profile
NETGEAR, Inc is a global networking company. The Company’s product line consists of devices, such as network attached storage, Internet protocol security cameras, and home automation devices and services. Its segments include retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products.
To view Vetr’s full report, visit Vetr’s official website.
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