Materion Corp. Price Target Cut to $35.00 by Analysts at DA Davidson (MTRN)
Stock analysts at DA Davidson decreased their price target on shares of Materion Corp. (NASDAQ:MTRN) from $37.00 to $35.00 in a report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 26.17% from the company’s current price.
Materion Corp. (NASDAQ:MTRN) traded down 3.68% on Tuesday, hitting $27.74. The stock had a trading volume of 94,431 shares. Materion Corp. has a 52-week low of $18.84 and a 52-week high of $33.69. The stock has a 50-day moving average of $31.13 and a 200-day moving average of $29.37. The company has a market cap of $571.0 million and a price-to-earnings ratio of 22.84.
Materion Corp. (NASDAQ:MTRN) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $323.65 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts expect that Materion Corp. will post $1.54 EPS for the current fiscal year.
Materion Corporation, formerly Brush Engineered Materials Inc, is a holding Company. The Company, through its wholly owned subsidiaries, is an integrated producer of advanced engineered materials used in a variety of electrical, electronic, thermal and structural applications.
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