Zacks Investment Research Lowers Rofin-Sinar Technologies Inc. (RSTI) to Hold
Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Rofin-Sinar Technologies designs, develops, engineers, manufactures and markets laser products for cutting, welding and marking a wide range of industrial materials. Through its global manufacturing, distribution and service network, the company provides a comprehensive range of laser solutions to three principal target markets for material processing lasers: the machine tool, automotive, and semiconductor/electronics industries. “
Shares of Rofin-Sinar Technologies (NASDAQ:RSTI) opened at 32.15 on Wednesday. The firm has a 50-day moving average of $32.14 and a 200 day moving average of $31.99. The firm has a market capitalization of $913.51 million, a price-to-earnings ratio of 27.53 and a beta of 1.98. Rofin-Sinar Technologies has a 52-week low of $19.02 and a 52-week high of $32.50.
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Rofin-Sinar Technologies (NASDAQ:RSTI) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company earned $125.94 million during the quarter, compared to analysts’ expectations of $130.90 million. Rofin-Sinar Technologies had a net margin of 6.80% and a return on equity of 7.04%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share. Analysts predict that Rofin-Sinar Technologies will post $1.12 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Rofin-Sinar Technologies by 0.4% in the second quarter. Capstone Asset Management Co. now owns 8,543 shares of the company’s stock valued at $273,000 after buying an additional 30 shares during the period. Eqis Capital Management Inc. boosted its position in Rofin-Sinar Technologies by 0.9% in the second quarter. Eqis Capital Management Inc. now owns 7,864 shares of the company’s stock valued at $251,000 after buying an additional 74 shares during the period. Northwest Investment Counselors LLC boosted its position in Rofin-Sinar Technologies by 1.1% in the second quarter. Northwest Investment Counselors LLC now owns 17,346 shares of the company’s stock valued at $554,000 after buying an additional 191 shares during the period. Arizona State Retirement System boosted its position in Rofin-Sinar Technologies by 1.4% in the second quarter. Arizona State Retirement System now owns 14,715 shares of the company’s stock valued at $470,000 after buying an additional 200 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Rofin-Sinar Technologies by 1.3% in the second quarter. New York State Teachers Retirement System now owns 22,618 shares of the company’s stock valued at $722,000 after buying an additional 300 shares during the period. Institutional investors own 88.14% of the company’s stock.
About Rofin-Sinar Technologies
ROFIN-SINAR Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications, which include primarily cutting, welding and marking a range of materials. The Company offers a range of laser components.
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