Jefferies Financial Group Initiates Coverage on Azenta (NASDAQ:AZTA)

Equities researchers at Jefferies Financial Group initiated coverage on shares of Azenta (NASDAQ:AZTA) in a report issued on Thursday, Marketbeat reports. The brokerage set a “hold” rating and a $64.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 11.34% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Azenta in a research note on Thursday, March 28th. Stephens reissued an “equal weight” rating and set a $70.00 target price on shares of Azenta in a report on Thursday, February 8th. Finally, B. Riley boosted their target price on shares of Azenta from $61.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Azenta has a consensus rating of “Hold” and a consensus price target of $69.60.

Azenta Trading Down 1.2 %

Azenta stock opened at $57.48 on Thursday. Azenta has a 12 month low of $36.01 and a 12 month high of $69.16. The business’s 50 day simple moving average is $63.06 and its 200 day simple moving average is $58.57. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -185.41 and a beta of 1.53.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.02 EPS for the quarter. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The business had revenue of $154.32 million for the quarter, compared to the consensus estimate of $151.86 million. As a group, equities research analysts forecast that Azenta will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Azenta by 558.8% in the third quarter. Citigroup Inc. now owns 88,078 shares of the company’s stock worth $4,421,000 after purchasing an additional 74,708 shares during the period. Millrace Asset Group Inc. bought a new position in shares of Azenta in the third quarter worth $1,074,000. Trexquant Investment LP bought a new position in shares of Azenta in the third quarter worth $860,000. Invesco Ltd. increased its holdings in shares of Azenta by 35.4% in the third quarter. Invesco Ltd. now owns 331,012 shares of the company’s stock worth $16,613,000 after purchasing an additional 86,477 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Azenta in the third quarter worth $220,000. Institutional investors own 99.08% of the company’s stock.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.