Ultratech, Inc. Downgraded by Canaccord Genuity to Hold (UTEK)
“Ultratech, Inc.” (NASDAQ:UTEK) was downgraded by Canaccord Genuity to a “hold” rating in a research note issued on Friday, Stock Ratings Network.com reports.
“Ultratech, Inc.” (NASDAQ:UTEK) traded down 3.53% on Friday, hitting $25.45. 1,170,791 shares of the company’s stock traded hands. “Ultratech, Inc.” has a 52 week low of $24.00 and a 52 week high of $43.00. The stock’s 50-day moving average is $29.68 and its 200-day moving average is $32.33. The company has a market cap of $706.8 million and a P/E ratio of 18.53.
“Ultratech, Inc.” (NASDAQ:UTEK) last released its earnings data on Thursday, October 17th. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.32. The company had revenue of $29.70 million for the quarter, compared to the consensus estimate of $42.80 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 50.9% on a year-over-year basis. Analysts expect that “Ultratech, Inc.” will post $0.61 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of “Ultratech, Inc.” from a “sell” rating to a “hold” rating in a research note to investors on Monday, October 7th. Separately, analysts at TheStreet downgraded shares of “Ultratech, Inc.” from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, August 13th. Finally, analysts at Zacks downgraded shares of “Ultratech, Inc.” from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, July 23rd. They now have a $28.10 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $33.78.
Ultratech, Inc, develops, manufactures and markets photolithography, laser thermal processing, and inspection equipment.
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