ADT (NYSE:ADT) Stock Price Down 7.5% – Here’s Why

ADT Inc. (NYSE:ADT) shares were down 7.5% on Tuesday . The stock traded as low as $7.76 and last traded at $8.1350. Approximately 5,574,840 shares were traded during trading, a decline of 58% from the average daily volume of 13,299,582 shares. The stock had previously closed at $8.79.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADT shares. Morgan Stanley upped their price target on shares of ADT from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Zacks Research cut shares of ADT from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Citigroup upped their price objective on shares of ADT from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Wall Street Zen cut shares of ADT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ADT in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.38.

ADT Stock Performance

The firm’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $8.47. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.37 and a current ratio of 0.46. The firm has a market cap of $6.75 billion, a PE ratio of 12.30 and a beta of 1.00.

ADT (NYSE:ADT) last issued its quarterly earnings data on Friday, April 22nd. The security and automation business reported ($0.12) EPS for the quarter. ADT had a return on equity of 18.58% and a net margin of 12.30%.The company had revenue of $1.31 billion during the quarter. On average, research analysts forecast that ADT Inc. will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On ADT

A number of hedge funds have recently added to or reduced their stakes in ADT. Norges Bank acquired a new stake in ADT during the 2nd quarter worth approximately $219,825,000. Allianz Asset Management GmbH lifted its holdings in ADT by 2,089.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 14,638,575 shares of the security and automation business’s stock worth $123,989,000 after buying an additional 13,969,976 shares in the last quarter. LSV Asset Management lifted its holdings in ADT by 97.1% during the 2nd quarter. LSV Asset Management now owns 24,727,193 shares of the security and automation business’s stock worth $209,439,000 after buying an additional 12,182,009 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in ADT by 179.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 13,693,517 shares of the security and automation business’s stock worth $115,984,000 after buying an additional 8,796,249 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in ADT by 668.5% during the 1st quarter. Millennium Management LLC now owns 7,504,051 shares of the security and automation business’s stock worth $61,083,000 after buying an additional 6,527,539 shares in the last quarter. 87.22% of the stock is currently owned by institutional investors and hedge funds.

ADT Company Profile

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.