Brooks Automation, Inc (BRKS) Reaches New 1-Year High on Analyst Upgrade
Shares of Brooks Automation, Inc (NASDAQ:BRKS) reached a new 52-week high on Monday after Citigroup raised their price target on the stock to $26.00. Citigroup currently has a buy rating on the stock. Brooks Automation traded as high as $22.04 and last traded at $22.04, with a volume of 240,922 shares trading hands. The stock had previously closed at $21.86.
A number of other analysts also recently weighed in on BRKS. B. Riley restated a “buy” rating and issued a $21.00 price target on shares of Brooks Automation in a research note on Monday, January 16th. Stifel Nicolaus downgraded Brooks Automation from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Brooks Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th. Needham & Company LLC restated a “buy” rating and issued a $17.00 price target on shares of Brooks Automation in a research note on Wednesday, November 30th. Finally, Credit Suisse Group AG upgraded Brooks Automation from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Monday, January 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.00.
In other Brooks Automation news, insider David Pietrantoni sold 10,000 shares of the business’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Following the sale, the insider now directly owns 61,336 shares in the company, valued at $1,284,989.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Lindon G. Robertson sold 47,017 shares of the business’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $20.93, for a total value of $984,065.81. Following the sale, the chief financial officer now owns 178,929 shares in the company, valued at $3,744,983.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,007 shares of company stock worth $2,084,557. 2.24% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors increased its stake in Brooks Automation by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,825,649 shares of the company’s stock worth $65,677,000 after buying an additional 385,131 shares during the last quarter. Northern Trust Corp increased its stake in Brooks Automation by 1.0% in the third quarter. Northern Trust Corp now owns 2,327,782 shares of the company’s stock worth $31,680,000 after buying an additional 23,914 shares during the last quarter. Boston Partners increased its stake in Brooks Automation by 5.6% in the third quarter. Boston Partners now owns 1,812,356 shares of the company’s stock worth $24,667,000 after buying an additional 96,821 shares during the last quarter. State Street Corp increased its stake in Brooks Automation by 12.3% in the fourth quarter. State Street Corp now owns 1,508,213 shares of the company’s stock worth $25,750,000 after buying an additional 165,631 shares during the last quarter. Finally, United Services Automobile Association increased its stake in Brooks Automation by 3.0% in the third quarter. United Services Automobile Association now owns 881,172 shares of the company’s stock worth $11,993,000 after buying an additional 25,300 shares during the last quarter. Institutional investors own 88.84% of the company’s stock.
The company has a 50 day moving average price of $20.73 and a 200-day moving average price of $16.40. The stock’s market cap is $1.46 billion.
Brooks Automation (NASDAQ:BRKS) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $160 million for the quarter, compared to the consensus estimate of $160.03 million. Brooks Automation had a positive return on equity of 8.51% and a negative net margin of 8.49%. The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Analysts predict that Brooks Automation, Inc will post $0.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Wednesday, March 1st. Brooks Automation’s dividend payout ratio (DPR) is -53.33%.
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About Brooks Automation
Brooks Automation, Inc is a provider of automation and cryogenic solutions for various applications and markets. The Company operates through two segments: Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers critical automated transport, vacuum and contamination controls solutions and services.
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