Abaxis Price Target Cut to $37.75 by Analysts at Feltl & Co. (ABAX)
Stock analysts at Feltl & Co. cut their price objective on shares of Abaxis (NASDAQ:ABAX) from $45.00 to $37.75 in a report issued on Wednesday, Stock Ratings Network reports. The firm currently has a “hold” rating on the stock. Feltl & Co.’s price objective indicates a potential downside of 0.87% from the company’s current price.
Abaxis (NASDAQ:ABAX) traded down 11.90% during mid-day trading on Wednesday, hitting $33.55. The stock had a trading volume of 666,011 shares. Abaxis has a 52-week low of $33.28 and a 52-week high of $51.84. The stock’s 50-day moving average is $40.5 and its 200-day moving average is $44.69. The company has a market cap of $748.8 million and a price-to-earnings ratio of 30.78.
Abaxis (NASDAQ:ABAX) last announced its earnings results on Tuesday, October 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $45.90 million for the quarter, compared to the consensus estimate of $48.60 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Abaxis will post $0.91 EPS for the current fiscal year.
ABAX has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Abaxis in a research note to investors on Wednesday, September 11th. They now have a $43.00 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Abaxis from $37.00 to $40.00 in a research note to investors on Friday, July 26th. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $41.55.
Abaxis, Inc develops portable multitest analyzer based on established principles of centrifugal analysis.
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