Maxwell Technologies Given “Neutral” Rating at Zacks (MXWL)
Maxwell Technologies (NASDAQ:MXWL)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday. They currently have a $10.00 price objective on the stock. Zacks‘s target price suggests a potential upside of 2.67% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining Neutral recommendation on Maxwell Technologies Inc. following its second quarter 2014 results. The company reported wider-than-expected loss on lower revenues. Again, the company expects its third quarter top line to decline. However, the company’s ultracapacitor business contributed 73.5% of the total revenue to its top line in the quarter. Maxwell is considered to be the market leader in the growing ultracapacitor market. In addition, we believe that the company’s focus on improving cost structure will help to boost future margins. However, over-reliance on third parties for manufacturing and logistics operations, foreign currency risks and over-dependence on macro-economic factors are causes of concerns. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Roth Capital cut their price target on shares of Maxwell Technologies to $15.00 in a research note on Friday. Separately, analysts at Piper Jaffray cut their price target on shares of Maxwell Technologies from $22.00 to $18.00 in a research note on Friday. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Maxwell Technologies in a research note on Thursday, July 24th. They now have a $22.00 price target on the stock, down previously from $25.00. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Maxwell Technologies presently has an average rating of “Buy” and a consensus price target of $16.83.
Shares of Maxwell Technologies (NASDAQ:MXWL) traded down 3.16% during mid-day trading on Monday, hitting $9.4325. The stock had a trading volume of 359,438 shares. Maxwell Technologies has a 52 week low of $6.75 and a 52 week high of $18.43. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $13.31. The company has a market cap of $275.5 million and a P/E ratio of 121.75.
Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.04) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.01 by $0.05. The company had revenue of $46.10 million for the quarter, compared to the consensus estimate of $45.86 million. During the same quarter last year, the company posted $0.15 earnings per share. Maxwell Technologies’s revenue was down 17.1% compared to the same quarter last year. Analysts expect that Maxwell Technologies will post $0.14 EPS for the current fiscal year.
Maxwell Technologies, Inc (NASDAQ:MXWL) develops, manufactures and markets energy storage and power delivery products for transportation, industrial, information technology and other applications and microelectronic products for space and satellite applications.
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