Cisco Systems (NASDAQ:CSCO) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $54.00 target price on the network equipment provider’s stock. Morgan Stanley’s target price suggests a potential upside of 15.73% from the stock’s previous close.
CSCO has been the subject of a number of other research reports. Nomura increased their price target on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $55.00 in a report on Tuesday, June 16th. Credit Suisse Group raised their target price on shares of Cisco Systems from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wells Fargo & Co raised their target price on shares of Cisco Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, UBS Group decreased their target price on shares of Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.70.
CSCO stock opened at $46.66 on Thursday. The firm has a market cap of $193.42 billion, a PE ratio of 18.52, a P/E/G ratio of 2.97 and a beta of 0.98. Cisco Systems has a 12 month low of $32.40 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $46.04 and a 200 day simple moving average of $44.28.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts expect that Cisco Systems will post 2.86 earnings per share for the current year.
In related news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the transaction, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Hoey Investments Inc. bought a new position in Cisco Systems during the second quarter valued at approximately $26,000. Lion Street Advisors LLC bought a new position in Cisco Systems during the first quarter valued at approximately $31,000. Bourgeon Capital Management LLC bought a new position in shares of Cisco Systems in the first quarter valued at approximately $32,000. Larson Financial Group LLC raised its position in shares of Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after purchasing an additional 356 shares during the period. Finally, Avondale Wealth Management raised its position in shares of Cisco Systems by 238.0% in the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after purchasing an additional 707 shares during the period. 71.52% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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