Robert W. Baird Upgrades Techne Corp. to Outperform (TECH)
Techne Corp. (NASDAQ:TECH) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $90.00 target price on the stock, up from their previous target price of $76.00. Robert W. Baird’s price objective indicates a potential upside of 15.80% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of Techne Corp. (NASDAQ:TECH) in a research note to investors on Thursday, August 15th. They set a “neutral” rating on the stock. Analysts at Craig Hallum upgraded shares of Techne Corp. (NASDAQ:TECH) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 7th. They now have a $85.00 price target on the stock, up previously from $75.00.
One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.67.
Techne Corp. (NASDAQ:TECH) opened at 77.72 on Friday. Techne Corp. has a 52-week low of $62.55 and a 52-week high of $79.51. The stock has a 50-day moving average of $76.80 and a 200-day moving average of $70.21. The company has a market cap of $2.864 billion and a P/E ratio of 25.48.
Techne Corp. (NASDAQ:TECH) last released its earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.83 by $0.01. The company had revenue of $79.50 million for the quarter, compared to the consensus estimate of $79.71 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Techne Corp. will post $3.40 EPS for the current fiscal year.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
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