Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Rofin-Sinar Technologies designs, develops, engineers, manufactures and markets laser products for cutting, welding and marking a wide range of industrial materials. Through its global manufacturing, distribution and service network, the company provides a comprehensive range of laser solutions to three principal target markets for material processing lasers: the machine tool, automotive, and semiconductor/electronics industries. “
Rofin-Sinar Technologies (NASDAQ:RSTI) opened at 32.15 on Wednesday. Rofin-Sinar Technologies has a 12 month low of $19.02 and a 12 month high of $32.50. The company has a market capitalization of $913.51 million, a PE ratio of 27.53 and a beta of 1.98. The company has a 50-day moving average price of $32.14 and a 200 day moving average price of $31.99.
Rofin-Sinar Technologies (NASDAQ:RSTI) last released its earnings results on Tuesday, August 9th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm had revenue of $125.94 million for the quarter, compared to analysts’ expectations of $130.90 million. Rofin-Sinar Technologies had a return on equity of 7.04% and a net margin of 6.80%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. On average, equities research analysts forecast that Rofin-Sinar Technologies will post $1.12 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Rofin-Sinar Technologies by 14.3% in the first quarter. Barclays PLC now owns 17,153 shares of the company’s stock worth $549,000 after buying an additional 2,140 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Rofin-Sinar Technologies during the first quarter worth about $32,121,000. Kennedy Capital Management Inc. boosted its stake in shares of Rofin-Sinar Technologies by 26.4% in the first quarter. Kennedy Capital Management Inc. now owns 615,376 shares of the company’s stock worth $19,827,000 after buying an additional 128,577 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Rofin-Sinar Technologies by 245.7% in the first quarter. Goldman Sachs Group Inc. now owns 102,280 shares of the company’s stock worth $3,296,000 after buying an additional 72,695 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new stake in shares of Rofin-Sinar Technologies during the first quarter worth about $360,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
About Rofin-Sinar Technologies
ROFIN-SINAR Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications, which include primarily cutting, welding and marking a range of materials. The Company offers a range of laser components.
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