Intevac Downgraded to “Neutral” at Zacks (IVAC)
Intevac (NASDAQ:IVAC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday. They currently have a $8.90 price objective on the stock. Zacks‘s price target points to a potential upside of 8.94% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC downgraded shares of Intevac from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th.
Intevac (NASDAQ:IVAC) traded up 2.00% during mid-day trading on Tuesday, hitting $8.17. The stock had a trading volume of 102,970 shares. Intevac has a 1-year low of $4.82 and a 1-year high of $10.20. The stock has a 50-day moving average of $7.62 and a 200-day moving average of $8.00. The company’s market cap is $195.3 million.
Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, April 28th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.02. The company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $16.83 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 30.8% on a year-over-year basis. On average, analysts predict that Intevac will post $-0.46 earnings per share for the current fiscal year.
Intevac, Inc (NASDAQ:IVAC) provides process manufacturing equipment solutions to the hard disk drive industry and manufacturing equipment and inspection solutions to the photovoltaic (PV) industry.
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