Greatbatch Rating Reiterated by Zacks (GB)
Greatbatch (NYSE:GB)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $52.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 5.99% from the company’s current price.
Zacks’ analyst wrote, “Greatbatch’s 2014-first quarter earnings per share of $0.54 grew 22.7% y-o-y and beat the Zacks Consensus Estimate by $0.04. Revenues of $174.3 million went up 17.5% and surpassed the mark by a wide margin. We appreciate the company s effort to become a provider of complete medical devices system by heavy investment on R&D. Furthermore, the company’s product pipeline looks healthy. However, we are cognizant regarding softness in the smaller Electrochem division. The company also faces significant customer concentration risks. As such, we maintain our Neutral recommendation on the stock and set a target of $52.00.”
Greatbatch (NYSE:GB) traded up 2.04% during mid-day trading on Tuesday, hitting $50.06. 38,100 shares of the company’s stock traded hands. Greatbatch has a 52 week low of $32.70 and a 52 week high of $50.17. The stock has a 50-day moving average of $47.67 and a 200-day moving average of $45.11. The company has a market cap of $1.245 billion and a price-to-earnings ratio of 27.66.
Greatbatch (NYSE:GB) last announced its earnings results on Wednesday, April 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.04. The company had revenue of $174.00 million for the quarter, compared to the consensus estimate of $158.48 million. Analysts expect that Greatbatch will post $2.33 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of Greatbatch in a research note on Friday, June 13th. They now have a $58.00 price target on the stock, up previously from $55.00. Separately, analysts at Sterne Agee initiated coverage on shares of Greatbatch in a research note on Tuesday, June 3rd. They set a “buy” rating and a $53.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $50.50.
Greatbatch, Inc (NYSE:GB) is developer and manufacturer of components for implantable medical devices (IMDs) and Electrochem batteries.
To view Zacks’ full report, visit Zacks’ official website.
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