Zacks: Mesa Laboratories, Inc. (NASDAQ:MLAB) Given $255.00 Consensus Target Price by Brokerages

Mesa Laboratories, Inc. (NASDAQ:MLAB) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price target of $255.00 for the company and are anticipating that the company will post $1.81 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Mesa Laboratories an industry rank of 147 out of 256 based on the ratings given to its competitors.

Several equities research analysts recently issued reports on MLAB shares. BidaskClub raised Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. ValuEngine raised Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. TheStreet lowered Mesa Laboratories from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised Mesa Laboratories from a “hold” rating to a “buy” rating and set a $256.00 target price on the stock in a research report on Wednesday, April 3rd. Finally, Sidoti initiated coverage on Mesa Laboratories in a research report on Wednesday, March 13th. They issued a “neutral” rating on the stock.

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Mesa Laboratories by 14.1% in the fourth quarter. Legal & General Group Plc now owns 656 shares of the medical instruments supplier’s stock worth $136,000 after purchasing an additional 81 shares in the last quarter. Sapphire Star Partners LP boosted its stake in Mesa Laboratories by 2.6% during the fourth quarter. Sapphire Star Partners LP now owns 5,767 shares of the medical instruments supplier’s stock valued at $1,201,000 after buying an additional 148 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Mesa Laboratories by 8.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,027 shares of the medical instruments supplier’s stock valued at $467,000 after buying an additional 157 shares in the last quarter. Bronfman E.L. Rothschild L.P. bought a new position in Mesa Laboratories during the fourth quarter valued at about $34,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Mesa Laboratories during the first quarter valued at about $41,000. 72.92% of the stock is owned by institutional investors.

NASDAQ MLAB traded up $12.46 on Tuesday, reaching $238.60. The company had a trading volume of 364,879 shares, compared to its average volume of 44,357. The firm has a market capitalization of $930.78 million, a price-to-earnings ratio of 44.43 and a beta of 0.32. Mesa Laboratories has a 1 year low of $167.34 and a 1 year high of $263.27. The firm’s 50-day moving average is $233.60. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

Mesa Laboratories (NASDAQ:MLAB) last announced its earnings results on Monday, June 3rd. The medical instruments supplier reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.74). Mesa Laboratories had a net margin of 7.26% and a return on equity of 19.88%. The business had revenue of $26.45 million during the quarter, compared to analyst estimates of $29.00 million. As a group, analysts forecast that Mesa Laboratories will post 7.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.27%. Mesa Laboratories’s payout ratio is 11.92%.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.

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