Abaxis Lowered to Hold at TheStreet (ABAX)
Abaxis (NASDAQ:ABAX) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Stock Ratings News reports.
The analysts wrote, “Abaxis (ABAX) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.”
Shares of Abaxis (NASDAQ:ABAX) traded up 0.13% during mid-day trading on Wednesday, hitting $38.75. The stock had a trading volume of 49,544 shares. Abaxis has a 1-year low of $32.11 and a 1-year high of $51.84. The stock has a 50-day moving average of $40.40 and a 200-day moving average of $38.85. The company has a market cap of $862.0 million and a price-to-earnings ratio of 50.92.
Abaxis (NASDAQ:ABAX) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.06. The company had revenue of $40.00 million for the quarter, compared to the consensus estimate of $49.47 million. On average, analysts predict that Abaxis will post $0.66 earnings per share for the current fiscal year.
In other Abaxis news, CTO Kenneth Aron unloaded 1,000 shares of the stock on the open market in a transaction dated Monday, February 24th. The shares were sold at an average price of $38.98, for a total value of $38,980.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Feltl & Co. downgraded shares of Abaxis from a “hold” rating to a “sell” rating in a research note on Thursday, January 30th. Analysts at Zacks downgraded shares of Abaxis from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 11th. They now have a $33.00 price target on the stock. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.00.
Abaxis, Inc develops portable multitest analyzer based on established principles of centrifugal analysis.
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