Hi-Tech Pharmacal Co. Downgraded to “Underperform” at Zacks (HITK)
Hi-Tech Pharmacal Co. (NASDAQ:HITK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, AnalystRatings.NET reports. They currently have a $41.10 target price on the stock. Zacks‘ price target points to a potential downside of 4.55% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Hi-Tech Pharmacal Co. from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 2nd. Analysts at Standpoint Research downgraded shares of Hi-Tech Pharmacal Co. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Hi-Tech Pharmacal Co. has an average rating of “Hold” and a consensus price target of $40.55.
In other Hi-Tech Pharmacal Co. news, Director Martin Goldwyn sold 1,500 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $43.10, for a total value of $64,650.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Hi-Tech Pharmacal Co. (NASDAQ:HITK) traded up 0.09% on Wednesday, hitting $43.10. 75,128 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 has a 50-day moving average of $41.75 and a 200-day moving average of $36.03. The company has a market cap of $586.8 million and a price-to-earnings ratio of 39.80.
Hi-Tech Pharmacal Co. (NASDAQ:HITK) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the 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. On average, analysts predict that Hi-Tech Pharmacal Co. will post $2.29 earnings per share 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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