Waters Corp. Rating Reiterated by Zacks (WAT)
Waters Corp. (NYSE:WAT)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday, Analyst Ratings News reports. They currently have a $109.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 4.94% from the company’s current price.
Zacks‘ analyst wrote, “We are reaffirming our Neutral recommendation on Waters Corporation with a target price of $109. The year 2012 was a challenge for Waters, which is continuing for the first half of 2013 as well. The company is experiencing slower than expected growth in both top and bottom line. Though the company gained a pretty consistent organic growth rate through the following quarters, demand remained sluggish. However, fair pricing for its products and its cost control effort helped it to deliver stable levels of profitability. The company continued to benefit from newer core offerings in chromatography, mass spectrometry and thermal technologies. Weak general economic condition continued to affect pharmaceutical end markets and continues to remain a matter of concern.”
Waters Corp. (NYSE:WAT) traded up 0.39% during mid-day trading on Friday, hitting $104.2772. 156,901 shares of the company’s stock traded hands. Waters Corp. has a 52 week low of $78.33 and a 52 week high of $108.89. The stock has a 50-day moving average of $103.5 and a 200-day moving average of $99.27. The company has a market cap of $8.886 billion and a P/E ratio of 18.73.
Waters Corp. (NYSE:WAT) last announced its earnings results on Tuesday, July 23rd. The company reported $1.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.21 by $0.13. The company had revenue of $451.00 million for the quarter, compared to the consensus estimate of $465.90 million. During the same quarter last year, the company posted $1.17 earnings per share. Waters Corp.’s revenue was up .0% compared to the same quarter last year. Analysts expect that Waters Corp. will post $5.05 EPS for the current fiscal year.
A number of other firms have also recently commented on WAT. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Waters Corp. from $122.00 to $126.00 in a research note to investors on Friday, September 27th. They now have a “buy” rating on the stock. Separately, analysts at Maxim Group initiated coverage on shares of Waters Corp. in a research note to investors on Thursday, September 26th. They set a “buy” rating and a $129.00 price target on the stock. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Waters Corp. in a research note to investors on Thursday, August 15th. They set a “neutral” rating on the stock. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $104.27.
Waters Corporation (NYSE:WAT) is an analytical instrument manufacturer that primarily designs, manufactures, sells and services, through its Waters Division, high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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