Azenta's (AZTA) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Azenta, indicating cautious sentiment towards the stock.
• Analysts have set an average target price of $35.75 for Azenta, with two analysts rating it as a Buy and three as Hold.
• Azenta's shares recently traded at $32.23, with a market cap of $1.48 billion and a price-to-earnings ratio of -13.32.

Azenta (NASDAQ:AZTA - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on the company. Evercore ISI set a $33.00 price target on Azenta and gave the company an "in-line" rating in a report on Tuesday, August 5th. Raymond James Financial upgraded Azenta from a "market perform" rating to an "outperform" rating and set a $35.00 price target on the stock in a report on Wednesday, August 6th. Finally, Stephens assumed coverage on Azenta in a report on Tuesday, July 22nd. They issued an "equal weight" rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Azenta currently has an average rating of "Hold" and an average target price of $35.75.

Azenta Price Performance

Shares of NASDAQ AZTA traded up $1.50 during trading hours on Wednesday, reaching $32.23. The stock had a trading volume of 424,488 shares, compared to its average volume of 737,833. The business's fifty day moving average is $30.28 and its two-hundred day moving average is $29.88. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -13.32 and a beta of 1.62. Azenta has a twelve month low of $23.91 and a twelve month high of $55.63.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Azenta had a negative net margin of 18.45% and a positive return on equity of 1.35%. The company had revenue of $143.94 million for the quarter, compared to the consensus estimate of $149.64 million. During the same quarter in the previous year, the company earned $0.14 EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts forecast that Azenta will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Hedge funds have recently modified their holdings of the business. Mechanics Financial Corp raised its position in shares of Azenta by 77.6% during the second quarter. Mechanics Financial Corp now owns 870 shares of the company's stock worth $27,000 after purchasing an additional 380 shares during the period. Farther Finance Advisors LLC raised its position in shares of Azenta by 788.1% during the first quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock worth $33,000 after purchasing an additional 859 shares during the period. Osaic Holdings Inc. raised its position in Azenta by 44.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company's stock valued at $39,000 after buying an additional 385 shares during the last quarter. CWM LLC lifted its stake in Azenta by 113.5% in the 2nd quarter. CWM LLC now owns 1,898 shares of the company's stock valued at $58,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Azenta by 29.1% in the 2nd quarter. Allworth Financial LP now owns 2,050 shares of the company's stock valued at $63,000 after acquiring an additional 462 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company's stock.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.

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