Insider Selling: Morton Topfer Sells 40,584 Shares of Measurement Specialties Stock (MEAS)
Measurement Specialties (NASDAQ:MEAS) Director Morton Topfer unloaded 40,584 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $57.29, for a total transaction of $2,325,057.36. Following the sale, the director now directly owns 444,417 shares in the company, valued at approximately $25,460,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Measurement Specialties (NASDAQ:MEAS) traded down 0.92% during mid-day trading on Monday, hitting $57.05. The stock had a trading volume of 10,241 shares. Measurement Specialties has a 52-week low of $33.22 and a 52-week high of $61.11. The stock has a 50-day moving average of $55.54 and a 200-day moving average of $51.97. The company has a market cap of $905.2 million and a P/E ratio of 27.38.
Measurement Specialties (NASDAQ:MEAS) last announced its earnings results on Wednesday, November 6th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $102.90 million for the quarter, compared to the consensus estimate of $101.50 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts expect that Measurement Specialties will post $2.24 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Needham & Company raised their price target on shares of Measurement Specialties from $52.00 to $60.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Separately, analysts at CJS Securities upgraded shares of Measurement Specialties to an “outperform” rating in a research note to investors on Friday, November 8th. Finally, analysts at Sidoti downgraded shares of Measurement Specialties from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 23rd.
Measurement Specialties, Inc is engaged in the design, development and manufacture of sensors and sensor-based systems for original equipment manufacturers (NASDAQ:MEAS) and end users, based on a range of technology and characterized by the MEAS brand name.
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