Brokerages Set Anterix Inc (NASDAQ:ATEX) Price Target at $62.50

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Shares of Anterix Inc (NASDAQ:ATEX) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $62.50.

Several research analysts have commented on ATEX shares. Zacks Investment Research cut shares of Anterix from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Morgan Stanley initiated coverage on shares of Anterix in a report on Monday, November 11th. They set an “equal weight” rating and a $50.00 price target on the stock.

NASDAQ:ATEX traded up $0.28 during mid-day trading on Friday, reaching $48.62. 3,413 shares of the stock were exchanged. The business has a fifty day moving average price of $42.86 and a 200 day moving average price of $41.67. Anterix has a 1-year low of $33.14 and a 1-year high of $51.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 19.88 and a quick ratio of 19.88.

Anterix (NASDAQ:ATEX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.13. The firm had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $0.40 million. Anterix had a negative return on equity of 17.13% and a negative net margin of 951.89%. As a group, sell-side analysts predict that Anterix will post -2.25 earnings per share for the current fiscal year.

In other Anterix news, major shareholder Owl Creek Asset Management, L. bought 73,900 shares of Anterix stock in a transaction dated Monday, October 28th. The stock was bought at an average price of $40.56 per share, for a total transaction of $2,997,384.00. Insiders bought 111,510 shares of company stock valued at $4,500,527 in the last 90 days. Corporate insiders own 6.74% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Owl Creek Asset Management L.P. lifted its position in shares of Anterix by 72.0% in the third quarter. Owl Creek Asset Management L.P. now owns 4,553,443 shares of the company’s stock worth $164,835,000 after purchasing an additional 1,905,770 shares in the last quarter. Lomas Capital Management LLC acquired a new position in Anterix in the 2nd quarter valued at approximately $67,174,000. BlackRock Inc. purchased a new stake in Anterix in the 2nd quarter worth approximately $31,107,000. Vanguard Group Inc. purchased a new stake in Anterix in the 2nd quarter worth approximately $29,277,000. Finally, Northern Trust Corp purchased a new stake in Anterix in the 2nd quarter worth approximately $5,889,000. 12.35% of the stock is currently owned by institutional investors.

Anterix Company Profile

Anterix Inc operates as a wireless communications company. The company focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Hawaii, Alaska, and Puerto Rico.

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