Seagate (NYSE: STX)‘s stock had its “buy” rating restated by equities researchers at TheStreet in a research report issued on Monday, AnalystRatingsNetwork reports.
The analysts wrote, “Seagate Technology (STX) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank upgraded shares of Seagate from a “hold” rating to a “buy” rating in a research note to investors on Thursday, May 23rd. They now have a GBX 46 ($0.70) price target on the stock, up previously from GBX 40 ($0.61). Separately, analysts at Lazard Capital Markets raised their price target on shares of Seagate from $42.00 to $48.00 in a research note to investors on Tuesday, May 14th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Seagate in a research note to investors on Friday, May 3rd. They now have a $42.00 price target on the stock.
Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $35.00.
Seagate (NYSE: STX) traded up 0.23% on Monday, hitting $44.07. Seagate has a 1-year low of $21.62 and a 1-year high of $37.94. The stock’s 50-day moving average is currently $35.16. The company has a market cap of $15.801 billion and a price-to-earnings ratio of 6.98.
Seagate (NYSE: STX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.16 by $0.10. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $2.64 earnings per share. Seagate’s revenue was down 20.8% compared to the same quarter last year. Analysts expect that Seagate will post $5.29 EPS for the current fiscal year.
Seagate Technology plc (NYSE: STX) is the provider of electronic data storage products.