Oracle (NYSE:ORCL) was downgraded by equities research analysts at TheStreet from a “b+” rating to a “c+” rating in a research report issued on Monday.
ORCL has been the topic of several other reports. Morgan Stanley reiterated a “buy” rating on shares of Oracle in a research report on Sunday. Oppenheimer reiterated a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Instinet assumed coverage on shares of Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 target price on the stock. Finally, Bank of America downgraded shares of Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.17.
Shares of Oracle stock opened at $47.05 on Monday. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle has a 1 year low of $43.60 and a 1 year high of $53.48. The company has a market cap of $215,052.33, a P/E ratio of 57.38, a P/E/G ratio of 1.98 and a beta of 1.05.
Oracle announced that its Board of Directors has approved a share buyback plan on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $52.19, for a total transaction of $195,712.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $945,943.75. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,250 shares of company stock valued at $98,330,688 in the last 90 days. 29.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in ORCL. Cambridge Investment Research Advisors Inc. grew its stake in shares of Oracle by 10.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 257,848 shares of the enterprise software provider’s stock worth $12,191,000 after acquiring an additional 23,924 shares in the last quarter. Fairfield Bush & CO. grew its stake in shares of Oracle by 4.3% in the 4th quarter. Fairfield Bush & CO. now owns 231,505 shares of the enterprise software provider’s stock worth $10,946,000 after acquiring an additional 9,470 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in shares of Oracle in the 4th quarter worth $172,000. Colonial Trust Advisors grew its stake in shares of Oracle by 54.3% in the 4th quarter. Colonial Trust Advisors now owns 135,423 shares of the enterprise software provider’s stock worth $6,403,000 after acquiring an additional 47,642 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Oracle by 7.7% in the 4th quarter. Xact Kapitalforvaltning AB now owns 633,636 shares of the enterprise software provider’s stock worth $29,958,000 after acquiring an additional 45,288 shares in the last quarter. Institutional investors and hedge funds own 57.93% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Oracle (ORCL) Rating Lowered to C+ at TheStreet” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://stocknewstimes.com/2018/03/21/oracle-orcl-rating-lowered-to-c-at-thestreet.html.
Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.