Agilent Technologies Inc. (A) Stock Rating Upgraded by Zacks Investment Research
Agilent Technologies Inc. (NYSE:A) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $52.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 9.94% from the company’s previous close.
According to Zacks, “Agilent Technologies is a broad-based OEM of test and measurement equipment. The company’s decision to divest/wind up underperforming businesses has enhanced its focus on the new Agilent, while enabling expansion of a solid recurring revenue base and diversification of geographic and industrial operations for growth. Also, the company’s focus on aligning investments so as to be oriented toward more attractive growth avenues and innovative high-margin product launches are positives. Agilent’s broad-based portfolio and increased focus on segments offer higher growth potential. However, the macro weakness in the U.S. and Europe and forex headwinds may temper revenue growth with the significant increase in operating expenses impacting the bottom line.”
A number of other brokerages have also weighed in on A. Goldman Sachs Group Inc. reissued a “buy” rating and set a $53.00 price objective on shares of Agilent Technologies in a report on Wednesday, September 7th. Morgan Stanley set a $47.00 target price on shares of Agilent Technologies and gave the company a “hold” rating in a research report on Thursday, August 18th. Robert W. Baird boosted their target price on shares of Agilent Technologies from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Evercore ISI boosted their target price on shares of Agilent Technologies from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Cowen and Company boosted their target price on shares of Agilent Technologies from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $48.25.
Shares of Agilent Technologies (NYSE:A) opened at 47.30 on Wednesday. The firm has a 50-day moving average price of $46.59 and a 200-day moving average price of $44.67. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 32.80 and a beta of 1.35. Agilent Technologies has a 52 week low of $34.15 and a 52 week high of $48.63.
Agilent Technologies (NYSE:A) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Agilent Technologies had a net margin of 11.59% and a return on equity of 14.97%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Agilent Technologies will post $1.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Tuesday, October 4th will be paid a dividend of $0.115 per share. The ex-dividend date is Friday, September 30th. This represents a $0.46 annualized dividend and a yield of 0.97%. Agilent Technologies’s dividend payout ratio is presently 31.72%.
In related news, insider Patrick Kaltenbach sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $47.00, for a total transaction of $94,000.00. Following the completion of the sale, the insider now owns 22,463 shares of the company’s stock, valued at approximately $1,055,761. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Cullen sold 13,574 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $47.52, for a total transaction of $645,036.48. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the stock. Cribstone Capital Management LLC purchased a new stake in Agilent Technologies during the second quarter valued at $102,000. ClariVest Asset Management LLC purchased a new stake in Agilent Technologies during the second quarter valued at $105,000. CENTRAL TRUST Co boosted its stake in Agilent Technologies by 1.3% in the second quarter. CENTRAL TRUST Co now owns 2,596 shares of the company’s stock valued at $115,000 after buying an additional 34 shares during the period. Trust Department MB Financial Bank N A boosted its stake in Agilent Technologies by 3,166.4% in the second quarter. Trust Department MB Financial Bank N A now owns 3,887 shares of the company’s stock valued at $150,000 after buying an additional 3,768 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in Agilent Technologies by 7,555.6% in the second quarter. JFS Wealth Advisors LLC now owns 3,445 shares of the company’s stock valued at $153,000 after buying an additional 3,400 shares during the period.
About Agilent Technologies
Agilent Technologies, Inc provides application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. The Company serves the life sciences, diagnostics and applied chemical markets. It has three business segments: life sciences and applied markets business, diagnostics and genomics business, and Agilent CrossLab business.
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