Brocade Communications Systems, Inc. (BRCD) Receives “Hold” Rating from Robert W. Baird
Brocade Communications Systems, Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reiterated by analysts at Robert W. Baird in a report issued on Friday. They currently have a $13.00 price objective on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 8.79% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub cut shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Brocade Communications Systems presently has an average rating of “Hold” and a consensus price target of $12.71.
Brocade Communications Systems (NASDAQ BRCD) traded up 0.460% during trading on Friday, hitting $12.005. 4,974,652 shares of the company traded hands. The company’s 50 day moving average is $12.28 and its 200-day moving average is $12.50. Brocade Communications Systems has a 52 week low of $8.64 and a 52 week high of $12.72. The stock has a market capitalization of $4.97 billion, a PE ratio of 169.085 and a beta of 0.63.
Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.12. The company had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. Brocade Communications Systems’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. Analysts predict that Brocade Communications Systems will post $0.61 earnings per share for the current year.
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Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Brocade Communications Systems by 13.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after buying an additional 1,430 shares during the period. Stephens Inc. AR lifted its stake in shares of Brocade Communications Systems by 17.6% during the 1st quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock worth $149,000 after acquiring an additional 1,792 shares during the last quarter. Bank of Montreal Can boosted its holdings in Brocade Communications Systems by 14.0% during the 1st quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock valued at $166,000 after acquiring an additional 1,629 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Brocade Communications Systems during the 2nd quarter valued at $177,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Brocade Communications Systems by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,087 shares during the period. Institutional investors and hedge funds own 83.39% of the company’s stock.
About Brocade Communications Systems
Brocade Communications Systems, Inc (Brocade) is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services.
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