Bio-Rad Laboratories Rating Increased to Buy at TheStreet (BIO)
Bio-Rad Laboratories (NYSE:BIO) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Stock Ratings Network reports.
The analysts wrote, “Bio-Rad Laboratories (BIO) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.”
Shares of Bio-Rad Laboratories (NYSE:BIO) traded down 0.67% on Thursday, hitting $130.97. 118,362 shares of the company’s stock traded hands. Bio-Rad Laboratories has a one year low of $110.02 and a one year high of $134.13. The stock’s 50-day moving average is $128.9 and its 200-day moving average is $122.2. The company has a market cap of $3.758 billion and a price-to-earnings ratio of 42.57.
Bio-Rad Laboratories (NYSE:BIO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.42 by $0.38. The company had revenue of $602.60 million for the quarter, compared to the consensus estimate of $586.67 million. During the same quarter last year, the company posted $1.65 earnings per share. Bio-Rad Laboratories’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Bio-Rad Laboratories will post $3.95 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Bio-Rad Laboratories from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 15th. They now have a $131.00 price target on the stock.
Bio-Rad Laboratories, Inc (NYSE:BIO) manufactures and supplies the life science research, healthcare, analytical chemistry and other markets with a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.