NetApp’s (NTAP) Hold Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their hold rating on shares of NetApp, Inc. (NASDAQ:NTAP) in a research report report published on Wednesday morning. BMO Capital Markets currently has a $43.00 target price on the data storage provider’s stock.
A number of other equities analysts have also weighed in on the stock. UBS AG reiterated a buy rating and set a $52.00 target price (up previously from $45.00) on shares of NetApp in a research report on Thursday. Robert W. Baird restated a hold rating on shares of NetApp in a research report on Thursday. Oppenheimer Holdings, Inc. restated a hold rating on shares of NetApp in a research report on Thursday. Barclays PLC restated an overweight rating and issued a $56.00 price objective (up from $52.00) on shares of NetApp in a research report on Thursday. Finally, Morgan Stanley restated a sell rating and issued a $41.00 price objective (up from $38.00) on shares of NetApp in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $48.68.
NetApp (NASDAQ NTAP) opened at $52.95 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market cap of $14,330.00, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. NetApp has a 1 year low of $34.72 and a 1 year high of $54.72.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. sell-side analysts expect that NetApp will post 2.49 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s payout ratio is 38.46%.
In related news, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the sale, the director now owns 24,132 shares in the company, valued at $1,050,465.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Kurian sold 4,570 shares of NetApp stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total transaction of $173,568.60. Following the completion of the sale, the chief executive officer now owns 23,028 shares in the company, valued at approximately $874,603.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,343 shares of company stock worth $3,302,273. 0.47% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. boosted its holdings in NetApp by 0.8% in the second quarter. CAPROCK Group Inc. now owns 5,278 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 44 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in NetApp by 0.6% in the second quarter. Contravisory Investment Management Inc. now owns 7,059 shares of the data storage provider’s stock valued at $283,000 after acquiring an additional 45 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in NetApp by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 8,201 shares of the data storage provider’s stock valued at $328,000 after acquiring an additional 58 shares in the last quarter. Breton Hill Capital Ltd. boosted its holdings in NetApp by 0.3% in the second quarter. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider’s stock valued at $692,000 after acquiring an additional 59 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in NetApp by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider’s stock valued at $673,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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