Activision Blizzard (NASDAQ:ATVI) Rating Lowered to Buy at ValuEngine

Activision Blizzard (NASDAQ:ATVI) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

A number of other brokerages have also commented on ATVI. Stephens upgraded shares of Activision Blizzard from an “equal” rating to a “weight” rating and lifted their price target for the stock from $52.00 to $65.00 in a report on Thursday, September 5th. Barclays set a $63.00 price target on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Monday, October 21st. BMO Capital Markets lifted their price target on shares of Activision Blizzard from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America set a $62.00 price target on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley lifted their price target on shares of Activision Blizzard from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of “Buy” and an average target price of $60.52.

Shares of NASDAQ:ATVI traded down $0.25 during mid-day trading on Friday, reaching $54.30. 15,898,300 shares of the company’s stock were exchanged, compared to its average volume of 8,976,302. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.14 and a beta of 0.87. The business’s fifty day moving average price is $54.65 and its 200-day moving average price is $49.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $57.52.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. Activision Blizzard’s revenue was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Analysts predict that Activision Blizzard will post 2.01 EPS for the current fiscal year.

In other Activision Blizzard news, insider Brian M. Stolz sold 134,845 shares of Activision Blizzard stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the sale, the insider now directly owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.67, for a total transaction of $280,889.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,511 shares of company stock worth $6,997,557. 1.29% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. Fulton Bank N.A. increased its stake in Activision Blizzard by 19.0% in the second quarter. Fulton Bank N.A. now owns 20,136 shares of the company’s stock valued at $951,000 after purchasing an additional 3,208 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Activision Blizzard by 57.3% in the second quarter. Carroll Financial Associates Inc. now owns 1,082 shares of the company’s stock valued at $51,000 after purchasing an additional 394 shares in the last quarter. Retirement Systems of Alabama increased its stake in Activision Blizzard by 0.4% in the second quarter. Retirement Systems of Alabama now owns 357,226 shares of the company’s stock valued at $16,861,000 after purchasing an additional 1,552 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Activision Blizzard by 3.3% in the second quarter. Gulf International Bank UK Ltd now owns 179,895 shares of the company’s stock valued at $8,491,000 after purchasing an additional 5,679 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in Activision Blizzard in the second quarter valued at $1,505,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Activision Blizzard Company Profile

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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