NetApp, Inc. (NASDAQ:NTAP).
On September 26 the stock rating was upgraded to “Buy” from “” in a statement from Cross Research. On September 26 the company was downgraded from “Neutral” to “Sell” by Deutsche Bank.
On August 18 Citigroup held the company rating at “Neutral” and moved up the price target to $31.00 from $23.00. Equity analyst JP Morgan upgraded the stock and raised the price target on August 18 boosting the price target from $29.00 to $31.00 and changing the rating from “Underweight” to “Neutral”.
August 18 investment analysts at Goldman Sachs left the stock rating at “Underweight” and raised the price target from $23.00 to $24.00.
In the market the company is trading up since yesterday’s close of $35.34. The company also recently announced a dividend for shareholders that will be paid on Wednesday the 26th of October 2016. The dividend payment will be $0.190 per share for the quarter which comes to $0.76 on an annualized basis. This dividend represents a yield of $2.13. The ex-dividend date is set for Thursday the 14th of July 2016.
Shares last traded at $35.56 a tad higher than the 50 day moving average which is $33.68 and which is marginally over the 200 day moving average of $27.31. The 50 day moving average was up by +5.38% whereas the 200 day moving average was up $8.18 or +29.97%.
The company currently has a P/E ratio of 31.94 and the market value is 9.89B. As of the last earnings report the EPS was $1.11 and is projected to be $2.36 for the current year with 278,667,000 shares outstanding. Analysts expect next quarter’s EPS will be $0.65 and the next full year EPS is anticipated to be $2.67.
Traders are feeling more bearish recently looking at the rise in short interest. The stock saw a rise in short interest of 0.01% between August 31, 2016 and September 15, 2016. Short shares grew 112,454 over that period. With short interest at 16,383,355 and short average daily volume at 2,781,428, the short-interest ratio is 5.9 and the percentage of shorted shares was 0.06% on September 15.