Apple Receives a Hold from Rosenblatt Securities

By Austin Angelo

In a report issued on October 11, Jun Zhang from Rosenblatt Securities assigned a Hold rating to Apple (NASDAQ: AAPL), with a price target of $150. The company’s shares closed on Friday at $156.99, close to its 52-week high of $164.94.

Zhang wrote:

“We maintain our production estimates of 20 million and 50 million iPhone X for the December and March quarters, respectively.”

According to TipRanks.com, Zhang is ranked 0 out of 5 stars with an average return of -10.2% and a 38.5% success rate. Zhang covers the Consumer Goods sector, focusing on stocks such as Himax Technologies, Lumentum Holdings, and Viavi Solutions.

Currently, the analyst consensus on Apple is Moderate Buy and the average price target is $175.29, representing an 11.7% upside.

In a report issued on September 27, Mizuho Securities also reiterated a Hold rating on the stock with a $150 price target.

Apple’s market cap is currently $811.6B and has a P/E ratio of 17.84. The company has a book value ratio of 6.1288.

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2017, Arthur Levinson, a Director at AAPL sold 35,000 shares for a total of $5,515,300.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.