Brooks Automation Inc. (BRKS) Rating Increased to Strong-Buy at Zacks Investment Research
Brooks Automation Inc. (NASDAQ:BRKS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The firm currently has a $17.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 9.96% from the company’s previous close.
According to Zacks, “Brooks Automation delivers automation solutions to the global semiconductor and related industries. The company’s hardware, factory/tool management software, and professional services can manage every wafer, reticle and data movement in the fab, helping semiconductor manufacturers optimize throughput, yield and cost reduction, while reducing their time to market. Brooks products and capabilities are used in virtually every fab in the world. “
BRKS has been the topic of a number of other reports. Citigroup Inc. raised Brooks Automation from a “neutral” rating to a “buy” rating and upped their target price for the company from $12.50 to $16.50 in a research report on Wednesday, October 12th. TheStreet raised Brooks Automation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 24th. Janney Montgomery Scott began coverage on Brooks Automation in a research report on Tuesday, September 13th. They set a “buy” rating and a $20.00 price target on the stock. Needham & Company LLC upped their price target on Brooks Automation from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, B. Riley reissued a “buy” rating and set a $16.00 price target on shares of Brooks Automation in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.72.
Shares of Brooks Automation (NASDAQ:BRKS) opened at 15.46 on Friday. Brooks Automation has a 12-month low of $8.33 and a 12-month high of $15.54. The firm has a 50-day moving average price of $13.49 and a 200-day moving average price of $12.16. The firm’s market cap is $1.02 billion.
Brooks Automation (NASDAQ:BRKS) last announced its earnings results on Thursday, November 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Brooks Automation had a positive return on equity of 5.75% and a negative net margin of 12.40%. The company had revenue of $157.55 million for the quarter, compared to analyst estimates of $145.77 million. During the same period in the prior year, the company posted $0.17 EPS. Brooks Automation’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Brooks Automation will post $0.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.59%. Brooks Automation’s payout ratio is currently -39.22%.
In other news, CEO Stephen S. Schwartz sold 10,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the chief executive officer now owns 747,688 shares of the company’s stock, valued at $11,215,320. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David C. Gray sold 6,441 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $12.74, for a total value of $82,058.34. Following the completion of the transaction, the insider now directly owns 138,834 shares of the company’s stock, valued at approximately $1,768,745.16. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRKS. Vanguard Group Inc. boosted its position 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 during the last quarter. BlackRock Fund Advisors boosted its position in Brooks Automation by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,825,649 shares of the company’s stock valued at $65,677,000 after buying an additional 385,131 shares during the last quarter. Northern Trust Corp boosted its position in Brooks Automation by 1.0% in the third quarter. Northern Trust Corp now owns 2,327,782 shares of the company’s stock valued at $31,680,000 after buying an additional 23,914 shares during the last quarter. Victory Capital Management Inc. boosted its position in Brooks Automation by 1.2% in the second quarter. Victory Capital Management Inc. now owns 2,091,823 shares of the company’s stock valued at $23,471,000 after buying an additional 24,784 shares during the last quarter. Finally, Boston Partners boosted its position in Brooks Automation by 5.6% in the third quarter. Boston Partners now owns 1,812,356 shares of the company’s stock valued at $24,667,000 after buying an additional 96,821 shares during the last quarter. 91.48% of the stock is owned by institutional investors.
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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