Zacks Investment Research Upgrades Acxiom Corp. (ACXM) to Buy
Acxiom Corp. (NASDAQ:ACXM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $29.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 7.53% from the company’s current price.
According to Zacks, “Acxiom Corp reported relatively healthy 2Q17 results on the back of successful execution of operational plans. The company has emerged as a formidable player in the field of marketing services and technology over the years. With continued solid contributions from LiveRamp, the company is striving to improve the functionality of its products across all channels and devices. Acxiom continues to reposition its portfolio by divesting assets that no longer fit its corporate strategy. Additionally, the company’s newly-introduced customized product range is successfully catering to the needs of its clients. However, the company operates in a competitive landscape that is becoming more complex with low barriers to entry. In addition, strength in U.S. dollar, and soft macroeconomic conditions across the globe are a matter of concern.”
Other research analysts have also recently issued research reports about the stock. Dougherty & Co boosted their price target on shares of Acxiom Corp. from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Cantor Fitzgerald initiated coverage on shares of Acxiom Corp. in a report on Wednesday, September 14th. They issued a “buy” rating and a $31.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Acxiom Corp. in a report on Wednesday, August 10th. Finally, BMO Capital Markets upgraded shares of Acxiom Corp. from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $23.00 to $28.00 in a report on Friday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.75.
Acxiom Corp. (NASDAQ:ACXM) opened at 26.97 on Thursday. Acxiom Corp. has a one year low of $17.32 and a one year high of $27.24. The firm’s 50-day moving average is $25.30 and its 200 day moving average is $23.80. The company has a market capitalization of $2.09 billion, a PE ratio of 267.03 and a beta of 1.13.
Acxiom Corp. (NASDAQ:ACXM) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $217 million for the quarter, compared to analysts’ expectations of $216.47 million. Acxiom Corp. had a net margin of 0.93% and a return on equity of 3.47%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities analysts expect that Acxiom Corp. will post $0.60 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in shares of Acxiom Corp. by 2.1% in the first quarter. State Street Corp now owns 2,391,900 shares of the company’s stock worth $51,284,000 after buying an additional 49,798 shares during the period. Kalmar Investments Inc. DE raised its stake in Acxiom Corp. by 8.4% in the second quarter. Kalmar Investments Inc. DE now owns 2,242,986 shares of the company’s stock worth $49,323,000 after buying an additional 172,889 shares during the last quarter. Victory Capital Management Inc. raised its stake in Acxiom Corp. by 2.7% in the second quarter. Victory Capital Management Inc. now owns 2,078,700 shares of the company’s stock worth $45,710,000 after buying an additional 54,925 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Acxiom Corp. by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,266,346 shares of the company’s stock worth $48,590,000 after buying an additional 43,115 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Acxiom Corp. by 2.6% in the first quarter. Teachers Advisors Inc. now owns 116,687 shares of the company’s stock worth $2,502,000 after buying an additional 2,956 shares during the last quarter. Institutional investors own 95.63% of the company’s stock.
About Acxiom Corp.
Acxiom Corporation (Acxiom) is a technology and enablement services company. The Company operates through three business segments: Marketing Services, Audience Solutions, and Connectivity. The Company’s Marketing Services segment helps clients to unify data at individual level. The Audience Solutions segment helps clients to validate the accuracy of their people-based data, enhance it with additional insight and keep it up to date, enabling clients to reach desired audiences with relevant messages.
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