Walt Disney (NYSE:DIS) Stock Price Up 3% Following Analyst Upgrade

The Walt Disney Company (NYSE:DIS)’s share price was up 3% on Friday after Bank of America raised their price target on the stock from $120.00 to $140.00. Bank of America currently has a buy rating on the stock. Walt Disney traded as high as $112.76 and last traded at $112.44. Approximately 5,048,202 shares were traded during trading, a decline of 54% from the average daily volume of 10,883,752 shares. The stock had previously closed at $109.12.

Several other brokerages have also issued reports on DIS. Loop Capital dropped their price target on Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley cut their target price on Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Piper Sandler assumed coverage on shares of Walt Disney in a report on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. UBS Group cut their price objective on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Macquarie lifted their target price on shares of Walt Disney from $91.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.68.

Institutional Investors Weigh In On Walt Disney

Institutional investors and hedge funds have recently modified their holdings of the stock. ESL Trust Services LLC purchased a new stake in Walt Disney in the first quarter worth about $31,000. William B. Walkup & Associates Inc. purchased a new position in shares of Walt Disney in the 2nd quarter valued at approximately $32,000. Mascoma Wealth Management LLC lifted its stake in shares of Walt Disney by 38.0% in the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock valued at $44,000 after purchasing an additional 122 shares during the period. First PREMIER Bank boosted its position in shares of Walt Disney by 98.1% during the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Walt Disney in the third quarter worth $51,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

The firm has a market cap of $203.90 billion, a P/E ratio of 43.12, a P/E/G ratio of 1.67 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $95.03 and a 200-day simple moving average of $96.77.

Walt Disney Company Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.