Seagate Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:STX)
Shares of Seagate (NYSE:STX) have been given a consensus recommendation of “Buy” by the twenty-two analysts that are covering the stock, AnalystRatings.NET reports. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $56.84.
In other Seagate news, EVP David Richarz sold 5,300 shares of Seagate stock on the open market in a transaction dated Friday, February 14th. The shares were sold at an average price of $49.61, for a total transaction of $262,933.00. Following the completion of the transaction, the executive vice president now directly owns 6,641 shares in the company, valued at approximately $329,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Seagate (NYSE:STX) traded up 3.06% on Wednesday, hitting $52.24. The stock had a trading volume of 1,178,558 shares. Seagate has a 52 week low of $31.03 and a 52 week high of $62.76. The stock’s 50-day moving average is $54.28 and its 200-day moving average is $48.50. The company has a market cap of $17.174 billion and a price-to-earnings ratio of 11.41.
Seagate (NYSE:STX) last announced its earnings results on Monday, January 27th. The company reported $1.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.39 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts expect that Seagate will post $5.10 EPS for the current fiscal year.
A number of analysts have recently weighed in on STX shares. Analysts at Zacks downgraded shares of Seagate from an “outperform” rating to a “neutral” rating in a research note on Friday, February 21st. They now have a $53.00 price target on the stock. Separately, analysts at RBC Capital upgraded shares of Seagate from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 21st. They now have a $60.00 price target on the stock, up previously from $59.00. Finally, analysts at Deutsche Bank cut their price target on shares of Seagate from $71.00 to $68.00 in a research note on Tuesday, January 28th. They now have a “buy” rating on the stock.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.