Sanmina Corp Stock Rating Lowered by Zacks (SANM)
Sanmina Corp (NASDAQ:SANM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Tuesday. They currently have a $24.10 price target on the stock. Zacks‘s price objective suggests a potential upside of 6.59% from the company’s current price.
Sanmina Corp (NASDAQ:SANM) traded up 1.86% on Tuesday, hitting $23.03. The stock had a trading volume of 619,047 shares. Sanmina Corp has a 1-year low of $13.47 and a 1-year high of $22.90. The stock has a 50-day moving average of $21.00 and a 200-day moving average of $18.0. The company has a market cap of $1.896 billion and a price-to-earnings ratio of 19.24.
Sanmina Corp (NASDAQ:SANM) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $0.30 earnings per share. Sanmina Corp’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Sanmina Corp will post $1.81 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SANM. Analysts at Needham & Company LLC raised their price target on shares of Sanmina Corp from $22.00 to $24.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Sanmina Corp in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sanmina Corp currently has an average rating of “Hold” and a consensus price target of $19.66.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services.
To view Zacks’ full report, visit Zacks’ official website.
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.