Hi-Tech Pharmacal Co. Upgraded to “Neutral” by Zacks (HITK)
Hi-Tech Pharmacal Co. (NASDAQ:HITK) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Analyst Ratings.Net reports. The firm currently has a $44.10 price target on the stock. Zacks‘ price target indicates a potential upside of 2.25% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 2nd. Separately, analysts at Standpoint Research downgraded shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, August 27th. Finally, analysts at Needham & Company reiterated a “hold” rating on shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) in a research note to investors on Wednesday, July 10th.
One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.05.
Shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) traded down 0.02% during mid-day trading on Tuesday, hitting $43.1201. 38,943 shares of the company’s stock traded hands. Hi-Tech Pharmacal Co. has a 52-week low of $28.70 and a 52-week high of $44.33. The stock’s 50-day moving average is $37.59 and its 200-day moving average is $34.93. The company has a market cap of $585.6 million and a P/E ratio of 36.24.
Hi-Tech Pharmacal Co. (NASDAQ:HITK) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.44. The company had revenue of $50.50 million for the quarter, compared to the consensus estimate of $57.78 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that Hi-Tech Pharmacal Co. will post $2.28 EPS for the current fiscal year.
Hi-Tech Pharmacal Co, Inc (NASDAQ:HITK), is a specialty manufacturer and marketer of prescription, over-the-counter (OTC) and nutritional products.
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