Brooks Automation Inc. (NASDAQ:BRKS) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $16.50 target price on the stock, up from their prior target price of $12.50. Citigroup Inc.’s price objective points to a potential upside of 23.60% from the stock’s current price.
A number of other research analysts have also commented on the company. Needham & Company LLC increased their price objective on Brooks Automation from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, July 29th. Janney Montgomery Scott started coverage on Brooks Automation in a report on Tuesday, September 13th. They issued a “buy” rating and a $20.00 target price on the stock. Zacks Investment Research lowered Brooks Automation from a “buy” rating to a “hold” rating in a report on Friday, June 17th. TheStreet raised Brooks Automation from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Finally, B. Riley reaffirmed a “buy” rating and issued a $16.00 target price on shares of Brooks Automation in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.05.
Shares of Brooks Automation (NASDAQ:BRKS) opened at 13.35 on Wednesday. Brooks Automation has a 12 month low of $8.33 and a 12 month high of $13.96. The firm has a 50-day moving average price of $13.13 and a 200 day moving average price of $11.62. The firm’s market capitalization is $882.70 million.
Brooks Automation (NASDAQ:BRKS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The business had revenue of $147.53 million for the quarter, compared to analyst estimates of $144.40 million. Brooks Automation had a positive return on equity of 4.92% and a negative net margin of 13.39%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, analysts anticipate that Brooks Automation will post $0.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 31st. Brooks Automation’s payout ratio is presently -37.38%.
In related news, SVP William T. Montone sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $12.50, for a total transaction of $62,500.00. Following the completion of the transaction, the senior vice president now owns 201,532 shares in the company, valued at approximately $2,519,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jason Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $13.00, for a total value of $52,000.00. Following the transaction, the vice president now owns 165,755 shares of the company’s stock, valued at approximately $2,154,815. The disclosure for this sale can be found here. Insiders own 2.15% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Brooks Automation by 31.4% in the first quarter. Royal Bank of Canada now owns 27,990 shares of the company’s stock valued at $291,000 after buying an additional 6,689 shares during the period. Granahan Investment Management Inc. MA increased its position in Brooks Automation by 7.8% in the first quarter. Granahan Investment Management Inc. MA now owns 2,849,214 shares of the company’s stock valued at $29,632,000 after buying an additional 206,530 shares during the period. Kennedy Capital Management Inc. increased its position in Brooks Automation by 19.6% in the first quarter. Kennedy Capital Management Inc. now owns 348,387 shares of the company’s stock valued at $3,623,000 after buying an additional 57,078 shares during the period. Wellington Management Group LLP bought a new position in Brooks Automation during the first quarter valued at approximately $13,905,000. Finally, Menta Capital LLC increased its position in Brooks Automation by 47.1% in the first quarter. Menta Capital LLC now owns 21,513 shares of the company’s stock valued at $224,000 after buying an additional 6,888 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.
Brooks Automation Company Profile
Brooks Automation, Inc is a global provider of automation, vacuum and instrumentation solutions for multiple markets, including semiconductor manufacturing, technology device manufacturing and life sciences. The Company operates in three segments: Brooks Product Solutions, Brooks Global Services and Brooks Life Science Systems.
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