Brooks Automation Inc. (BRKS) Upgraded to “Buy” at Citigroup Inc.
Citigroup Inc. upgraded shares of Brooks Automation Inc. (NASDAQ:BRKS) from a neutral rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $16.50 price objective on the stock, up from their previous price objective of $12.50.
Other equities analysts have also recently issued research reports about the stock. Janney Montgomery Scott assumed coverage on shares of Brooks Automation in a research report on Tuesday, September 13th. They set a buy rating and a $20.00 target price for the company. TheStreet upgraded shares of Brooks Automation from a hold rating to a buy rating in a research report on Wednesday, August 24th. Zacks Investment Research upgraded shares of Brooks Automation from a sell rating to a hold rating in a research report on Monday, August 8th. B. Riley restated a buy rating and set a $16.00 target price on shares of Brooks Automation in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC lifted their target price on shares of Brooks Automation from $13.00 to $15.00 and gave the stock a buy rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $15.05.
Brooks Automation (NASDAQ:BRKS) traded down 1.25% during mid-day trading on Wednesday, hitting $13.38. 29,617 shares of the stock traded hands. Brooks Automation has a 12-month low of $8.33 and a 12-month high of $13.96. The company’s market cap is $884.69 million. The firm’s 50-day moving average is $13.11 and its 200-day moving average is $11.60.
Brooks Automation (NASDAQ:BRKS) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $147.53 million for the quarter, compared to the consensus estimate of $144.40 million. Brooks Automation had a negative net margin of 13.39% and a positive return on equity of 4.92%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities research analysts expect that Brooks Automation will post $0.40 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 31st. Brooks Automation’s dividend payout ratio (DPR) is -37.38%.
In other Brooks Automation news, SVP William T. Montone sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $12.08, for a total transaction of $60,400.00. Following the completion of the sale, the senior vice president now directly owns 206,532 shares in the company, valued at $2,494,906.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David C. Gray sold 6,441 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $12.74, for a total transaction of $82,058.34. Following the sale, the insider now owns 138,834 shares of the company’s stock, valued at $1,768,745.16. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BRKS. Wellington Management Group LLP acquired a new stake in Brooks Automation during the first quarter valued at about $13,905,000. Deprince Race & Zollo Inc. acquired a new stake in Brooks Automation during the second quarter valued at about $8,793,000. Boston Partners increased its stake in Brooks Automation by 58.8% in the second quarter. Boston Partners now owns 1,715,535 shares of the company’s stock valued at $19,248,000 after buying an additional 634,989 shares in the last quarter. Vanguard Group Inc. increased its stake in Brooks Automation by 5.1% in the second quarter. Vanguard Group Inc. now owns 5,496,910 shares of the company’s stock valued at $61,675,000 after buying an additional 269,175 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its stake 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 in the last quarter. Institutional investors own 92.07% of the company’s stock.
About Brooks Automation
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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