Maxwell Technologies’s Neutral Rating Reaffirmed at Zacks (MXWL)
Maxwell Technologies (NASDAQ:MXWL)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Friday, Stock Ratings Network.com reports. They currently have a $9.25 target price on the stock. Zacks‘ price target would indicate a potential upside of 4.40% from the stock’s previous close.
Zacks‘ analyst wrote, “Maxwell Technologies Inc.’s third-quarter 2013 results benefited from strong contributions from the ultracapacitor business, partially offset by a drop in revenues from the high voltage capacitor and microelectronics products, and higher cost of revenues and total operating expenses. Going forward, we expect the top line to continue to grow on the heels of expected increase in ultracapacitor sales through a production ramp up for automotives and installation of ultracapacitor electrode fabrication lines. We believe that the company’s focus on improving cost structure will help to boost upcoming margins. However, Maxwell’s over-dependence on third parties for manufacturing and logistics operations, over-reliance on the Chinese government for subsidies, foreign currency risks and licensing law hurdles raise our concerns. Thus, we have maintained our Neutral recommendation on the stock.”
Shares of Maxwell Technologies (NASDAQ:MXWL) traded down 4.78% during mid-day trading on Friday, hitting $8.4364. The stock had a trading volume of 233,363 shares. Maxwell Technologies has a 1-year low of $4.90 and a 1-year high of $11.08. The stock’s 50-day moving average is $7.62 and its 200-day moving average is $8.22. The company has a market cap of $243.7 million and a P/E ratio of 21.25.
A number of other firms have also recently commented on MXWL. Analysts at Thomson Reuters/Verus downgraded shares of Maxwell Technologies from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Piper Jaffray upgraded shares of Maxwell Technologies from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, January 17th. They now have a $11.00 price target on the stock, up previously from $8.50. Finally, analysts at Piper Jaffray reiterated a “neutral” rating on shares of Maxwell Technologies in a research note to investors on Friday, November 29th. They now have a $8.50 price target on the stock, up previously from $8.00. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.55.
Maxwell Technologies, Inc (NASDAQ:MXWL) develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications.
To view Zacks’ full report, visit www.zacks.com
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