Adamas Trust (NASDAQ:ADAM) Stock Price Expected to Rise, JonesTrading Analyst Says

Key Points

• JonesTrading raised Adamas Trust’s price target to $10.00 from $9.50 and maintained a “buy” rating, implying 11.86% upside from the stock’s $8.94 price.
• Analyst sentiment remains cautious overall: Adamas Trust has a consensus “hold” rating and a $9.50 average price target, with one buy rating and three holds.
• The company exceeded quarterly expectations, reporting $0.30 in earnings per share versus a $0.25 consensus estimate and revenue of $47.92 million versus $47.50 million expected.

Adamas Trust (NASDAQ:ADAM - Get Free Report) had its price target upped by investment analysts at JonesTrading from $9.50 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. JonesTrading's target price indicates a potential upside of 11.86% from the company's current price.

A number of other analysts have also recently weighed in on the stock. B. Riley Financial cut shares of Adamas Trust from a "buy" rating to a "neutral" rating and set a $9.50 price objective on the stock. in a report on Thursday, April 30th. Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.50.

Adamas Trust Price Performance

Shares of ADAM traded up $0.29 during mid-day trading on Thursday, reaching $8.94. The company's stock had a trading volume of 1,799,939 shares, compared to its average volume of 765,650. Adamas Trust has a 12-month low of $6.16 and a 12-month high of $9.59. The firm has a market capitalization of $803.35 million, a PE ratio of 7.64 and a beta of 1.16. The company has a current ratio of 17.69, a quick ratio of 17.70 and a debt-to-equity ratio of 11.91. The firm's 50 day moving average price is $9.06.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a return on equity of 14.29% and a net margin of 24.14%. As a group, sell-side analysts anticipate that Adamas Trust will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp purchased a new position in shares of Adamas Trust during the fourth quarter worth approximately $24,607,000. Invesco Ltd. purchased a new stake in Adamas Trust in the 4th quarter valued at $23,172,000. Geode Capital Management LLC purchased a new stake in Adamas Trust in the 4th quarter valued at $15,702,000. Charles Schwab Investment Management Inc. acquired a new stake in Adamas Trust during the 4th quarter worth $13,039,000. Finally, JPMorgan Chase & Co. acquired a new stake in Adamas Trust during the 4th quarter worth $4,258,000. Institutional investors and hedge funds own 54.89% of the company's stock.

About Adamas Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.