Brooks Automation Inc. (BRKS) Given “Buy” Rating at Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Brooks Automation Inc. (NASDAQ:BRKS) in a research report report published on Wednesday morning. They currently have a $17.00 price objective on the stock.
A number of other brokerages also recently issued reports on BRKS. B. Riley reaffirmed a buy rating and set a $16.00 price target on shares of Brooks Automation in a report on Wednesday, August 3rd. Citigroup Inc. raised Brooks Automation from a neutral rating to a buy rating and upped their price target for the company from $12.50 to $16.50 in a report on Wednesday, October 12th. Janney Montgomery Scott initiated coverage on Brooks Automation in a report on Tuesday, September 13th. They set a buy rating and a $20.00 price target on the stock. TheStreet raised Brooks Automation from a hold rating to a buy rating in a report on Wednesday, August 24th. Finally, Zacks Investment Research raised Brooks Automation from a sell rating to a hold rating in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $16.05.
Brooks Automation (NASDAQ:BRKS) opened at 16.30 on Wednesday. The stock’s market cap is $1.08 billion. Brooks Automation has a 12-month low of $8.33 and a 12-month high of $16.81. The firm’s 50-day moving average price is $14.15 and its 200-day moving average price is $12.61.
Brooks Automation (NASDAQ:BRKS) last released its earnings results on Thursday, November 10th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $157.55 million for the quarter, compared to analysts’ expectations of $145.77 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that Brooks Automation will post $0.85 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, November 30th. Brooks Automation’s dividend payout ratio (DPR) is presently -39.22%.
In other news, insider David C. Gray sold 6,441 shares of Brooks Automation 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 transaction, the insider now directly owns 138,834 shares in the company, valued at approximately $1,768,745.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn C. Davis sold 3,000 shares of Brooks Automation stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $15.51, for a total value of $46,530.00. Following the completion of the transaction, the director now owns 3,569 shares in the company, valued at $55,355.19. The disclosure for this sale can be found here. Company insiders own 2.15% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC increased its position in shares of Brooks Automation by 34.7% in the second quarter. Rice Hall James & Associates LLC now owns 200,287 shares of the company’s stock valued at $2,247,000 after buying an additional 51,565 shares during the period. California Public Employees Retirement System boosted its position in shares of Brooks Automation by 2.9% in the second quarter. California Public Employees Retirement System now owns 178,500 shares of the company’s stock valued at $2,003,000 after buying an additional 5,100 shares during the period. Princeton Alpha Management LP bought a new position in shares of Brooks Automation during the second quarter valued at about $180,000. Nationwide Fund Advisors boosted its position in shares of Brooks Automation by 1.8% in the second quarter. Nationwide Fund Advisors now owns 72,644 shares of the company’s stock valued at $815,000 after buying an additional 1,319 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Brooks Automation during the second quarter valued at about $1,547,000. Institutional investors and hedge funds own 92.93% 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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