In a report released today, Craig Ellis from B.Riley FBR reiterated a Buy rating on Brooks Automation (BRKS), with a price target of $43. The company’s shares opened today at $34.10.
Ellis said:
“BRKS reported F2Q19 beat the Street by $5.2M/$0.07, though F3Q’s sales guide was modestly below due to cyclical Semi headwinds and in our view overly-aggressive Street estimates. Overall, execution was strong, and shares eased 1% AMC. We have five key takeaways. First, in a difficult overall environment revenue and profitability out-performed, showing strong quarterly execution. Second, Semi is visibly outperforming peers with multi- pronged emerging growth driver positioning. Y/Y growth persists, albeit in the outlook a little slower than we expected but with portfolio synergies auguring well longer term. Fourth, F2Q opex was sharply below, accelerating the timing to mid-teens OM’s by four quarters versus our model.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 17.7% and a 66.3% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Kulicke & Soffa.
Brooks Automation has an analyst consensus of Moderate Buy, with a price target consensus of $42.50.
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Brooks Automation’s market cap is currently $2.33B and has a P/E ratio of 20.03. The company has a Price to Book ratio of 3.19.
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock.
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Brooks Automation, Inc. engages in the provision of automation and cryogenic solutions for multiple markets, including semiconductor capital equipment and life science biological sample management and storage. It operates through the following business segments: Brooks Semiconductor Solutions Group; and Brooks Life Science Systems.
