Apple (NASDAQ:AAPL) Price Target Raised to $275.00 at Evercore ISI

Apple (NASDAQ:AAPL) had its price target lifted by Evercore ISI from $260.00 to $275.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the iPhone maker’s stock. Evercore ISI’s price objective would suggest a potential upside of 28.50% from the company’s current price.

A number of other analysts have also weighed in on AAPL. Barclays upped their target price on shares of Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Maxim Group increased their price objective on Apple to $215.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Moffett Nathanson restated a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Price Performance

Shares of NASDAQ AAPL opened at $214.00 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The stock has a market cap of $3.21 trillion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The stock has a fifty day moving average of $233.90 and a 200-day moving average of $233.71.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple will post 7.28 earnings per share for the current year.

Institutional Investors Weigh In On Apple

Several institutional investors have recently bought and sold shares of AAPL. Drystone LLC acquired a new position in Apple in the 4th quarter valued at $25,000. Bull Oak Capital LLC boosted its stake in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Life Planning Partners Inc bought a new stake in shares of Apple in the 4th quarter worth $47,000. Conquis Financial LLC purchased a new stake in shares of Apple in the 4th quarter valued at approximately $63,000. Finally, LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.