Zacks: Mesa Laboratories, Inc. (MLAB) Given Average Rating of “Strong Buy” by Analysts
Mesa Laboratories, Inc. (NASDAQ:MLAB) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus price target of $190.00 for the company and are forecasting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Mesa Laboratories an industry rank of 164 out of 265 based on the ratings given to related companies.
MLAB has been the subject of several research analyst reports. Zacks Investment Research upgraded Mesa Laboratories from a “strong sell” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Tuesday, October 3rd. BidaskClub cut Mesa Laboratories from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, TheStreet cut Mesa Laboratories from a “b” rating to a “c+” rating in a research report on Monday, July 31st.
Mesa Laboratories (NASDAQ MLAB) traded up $0.71 during trading hours on Friday, reaching $157.91. The company’s stock had a trading volume of 8,732 shares, compared to its average volume of 12,779. The stock has a market capitalization of $594.55, a PE ratio of 38.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.26 and a quick ratio of 1.37. Mesa Laboratories has a 1 year low of $109.14 and a 1 year high of $169.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.41%. The ex-dividend date is Wednesday, November 29th. Mesa Laboratories’s payout ratio is 22.94%.
In other Mesa Laboratories news, Director H Stuart Campbell sold 1,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $137.61, for a total value of $137,610.00. Following the completion of the transaction, the director now owns 46,976 shares in the company, valued at $6,464,367.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 5,610 shares of company stock valued at $746,979 in the last quarter. 15.70% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its position in shares of Mesa Laboratories by 5.8% in the third quarter. Conestoga Capital Advisors LLC now owns 373,227 shares of the medical instruments supplier’s stock valued at $55,730,000 after buying an additional 20,489 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Mesa Laboratories by 11.8% in the third quarter. Victory Capital Management Inc. now owns 147,468 shares of the medical instruments supplier’s stock valued at $22,020,000 after buying an additional 15,580 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Mesa Laboratories by 10.1% in the second quarter. Vanguard Group Inc. now owns 145,161 shares of the medical instruments supplier’s stock valued at $20,804,000 after buying an additional 13,263 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mesa Laboratories by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 129,320 shares of the medical instruments supplier’s stock valued at $18,532,000 after buying an additional 4,634 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Mesa Laboratories by 9.8% in the second quarter. Renaissance Technologies LLC now owns 87,271 shares of the medical instruments supplier’s stock valued at $12,507,000 after buying an additional 7,771 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.
About Mesa Laboratories
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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