NetApp (NTAP) Lifted to “Buy” at Bank of America
NetApp (NASDAQ:NTAP) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, The Fly reports.
Other analysts have also recently issued research reports about the company. DA Davidson lifted their target price on NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies set a $52.00 target price on NetApp and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Maxim Group reissued a “buy” rating and set a $56.00 price target on shares of NetApp in a report on Friday, October 27th. Lake Street Capital reissued a “buy” rating and set a $54.00 price target (up previously from $49.00) on shares of NetApp in a report on Thursday, November 16th. Finally, UBS Group reissued a “buy” rating and set a $52.00 price target (up previously from $45.00) on shares of NetApp in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the stock. NetApp has a consensus rating of “Hold” and an average target price of $52.81.
Shares of NetApp (NASDAQ:NTAP) opened at $57.73 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. NetApp has a 52-week low of $37.43 and a 52-week high of $64.06. The company has a market capitalization of $14,985.70, a PE ratio of 24.78, a PEG ratio of 1.79 and a beta of 1.32.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the sale, the executive vice president now owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joel D. Reich sold 3,371 shares of NetApp stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The disclosure for this sale can be found here. Insiders sold a total of 176,629 shares of company stock worth $9,568,956 in the last ninety days. 0.47% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NTAP. Exane Derivatives boosted its holdings in NetApp by 59,850.0% in the 3rd quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services boosted its holdings in NetApp by 27,540.0% in the 3rd quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares in the last quarter. Quantbot Technologies LP purchased a new stake in NetApp in the 3rd quarter valued at approximately $131,000. IFP Advisors Inc boosted its stake in shares of NetApp by 45.3% during the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 801 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of NetApp by 227.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock worth $182,000 after acquiring an additional 2,282 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This article was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://theolympiareport.com/2018/02/13/netapp-ntap-lifted-to-buy-at-bank-of-america.html.
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.
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.