Brooks Automation, Inc. (NASDAQ:BRKS) is among the top gainers of the stock market today, skyrocketing 3.84% or (1.52 points) to $41.1 from its previous close of $39.58. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 219930 contracts so far this session. BRKS shares had a relatively better volume day versus average trading capacity of 574.27 thousand shares, but with a 70.7 million float and a 11.52% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BRKS stock indicates that the average analyst price target is $42.83 per share. This means the stock has a potential increase of 4.21% from where the BRKS share price has been trading recently which is between $39.52 and $40.78. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $30.
The shorts are running away from Brooks Automation, Inc. (BRKS) stock. The latest set of short interest data was released on 15 May 2019, and the numbers show a drop in short interest in BRKS shares. While short interest still represents only 7.7% of BRKS’s float, the number of shares shorted have fallen by -544391. The number of shares shorted fell to 5441098 shares, down from 5985489 shares during the preceding fortnight. With average daily trading volumes at 699618 shares, days to cover decreased to about 9.525831 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “This ETF tracks the robotics revolution” and dated June 05, 2019.
During the recent trading session for Brooks Automation, Inc. (NASDAQ:BRKS), the company witnessed their stock rise $5.56 over a week and surge $2.4 from the price 20 days ago. When compared to their established 52-week high of $42.17, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/10/19. The recent low of $23.02 stood for a 0.78% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.43 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Brooks Automation, Inc., the two-week RSI stands at 67.33. This figure suggests that BRKS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BRKS readings is similarly very revealing as it has a stochastic reading of 89.17% at this stage. This figure means that BRKS share price today is being oversold.
Technical chart claims that Brooks Automation, Inc. (BRKS) would settle between $40.4/share to $41.22/share level. However, if the stock price goes below the $39.14 mark, then the market for Brooks Automation, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $38.7 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Credit Suisse lifted target price for shares of BRKS but were stick to Neutral recommendation for the stock in their opinion released on November 20. The price target has been raised from $32 to $26. B. Riley FBR analysts again handed out a Buy recommendation to Brooks Automation, Inc. (NASDAQ:BRKS) stock but they lifted target price for the shares in a flash note issued to investors on November 20. The target price has been raised from $45 to $42. Analysts at B. Riley FBR, Inc. are sticking to their Buy stance. However, on February 02, they lifted price target for these shares to $38 from $34.
BRKS equity has an average rating of 1.5, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Brooks Automation, Inc. (NASDAQ:BRKS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BRKS stock price is currently trading at 26.58X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.13 while for the average stock in the same group, the multiple is 3.42. Brooks Automation, Inc. current P/E ratio of 37.64 means it is trading at a premium against its industry’s 22.41. In the past 5 years, this ratio for the stock has been fluctuating between 4.01 and 523.15.
Brooks Automation, Inc. (BRKS)’s current-quarter revenues are projected to climb by nearly -8.36% to hit $204800, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 2.14% from $779710 to a noteworthy $796430. At the other end of the current quarter income statement, Brooks Automation, Inc. is expected to see its adjusted earnings surge by roughly -69.23% to hit $0.16 per share. For the fiscal year, BRKS’s earnings are projected to climb by roughly -12.5% to hit $0.77 per share.