Brooks Automation (NASDAQ:BRKS) Trading Down 13.5% After Analyst Downgrade

Brooks Automation, Inc (NASDAQ:BRKS)’s share price dropped 13.5% during mid-day trading on Friday after B. Riley lowered their price target on the stock from $51.00 to $47.00. B. Riley currently has a buy rating on the stock. Brooks Automation traded as low as $32.41 and last traded at $32.69, approximately 1,349,437 shares were traded during mid-day trading. An increase of 137% from the average daily volume of 569,868 shares. The stock had previously closed at $37.78.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Brooks Automation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, July 25th. BidaskClub cut shares of Brooks Automation from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. ValuEngine raised shares of Brooks Automation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Brooks Automation from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Brooks Automation currently has an average rating of “Buy” and an average price target of $41.00.

In other news, insider David Pietrantoni sold 3,333 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $41.00, for a total transaction of $136,653.00. Following the transaction, the insider now directly owns 35,768 shares in the company, valued at $1,466,488. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alfred Woollacott III sold 4,355 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $38.93, for a total transaction of $169,540.15. Following the transaction, the director now owns 84,736 shares in the company, valued at $3,298,772.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,265 shares of company stock worth $525,067. 2.45% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP grew its position in shares of Brooks Automation by 3.4% during the first quarter. Systematic Financial Management LP now owns 397,538 shares of the semiconductor company’s stock worth $11,660,000 after acquiring an additional 13,145 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Brooks Automation by 11.2% during the fourth quarter. Deutsche Bank AG now owns 155,199 shares of the semiconductor company’s stock worth $4,061,000 after purchasing an additional 15,680 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Brooks Automation during the first quarter worth $449,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Brooks Automation during the first quarter worth $2,128,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Brooks Automation by 11.4% during the first quarter. Nisa Investment Advisors LLC now owns 48,804 shares of the semiconductor company’s stock worth $1,431,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 98.54% of the company’s stock.

The company has a debt-to-equity ratio of 0.73, a current ratio of 2.86 and a quick ratio of 2.25. The firm has a fifty day simple moving average of $39.42. The company has a market capitalization of $2.93 billion, a PE ratio of 51.08 and a beta of 1.38.

Brooks Automation (NASDAQ:BRKS) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Brooks Automation had a return on equity of 9.45% and a net margin of 6.68%. The firm had revenue of $203.88 million during the quarter, compared to the consensus estimate of $205.14 million. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, research analysts anticipate that Brooks Automation, Inc will post 0.76 EPS for the current year.

About Brooks Automation (NASDAQ:BRKS)

Brooks Automation, Inc provides automation and cryogenic solutions for various markets. The company operates in two segments, Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers mission-critical wafer automation and contamination controls solutions and services.

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