B. Riley Securities slashes price target on Azenta Inc. [AZTA] – find out why.


Azenta Inc. [NASDAQ: AZTA] closed the trading session at $61.77 on 07/14/22. The day’s price range saw the stock hit a low of $60.805, while the highest price level was $65.54. The company report on July 13, 2022 that Azenta Reports Preliminary Results for Third Quarter of Fiscal 2022, Ended June 30, 2022 and Announces Earnings Conference Call and Webcast.

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Azenta, Inc. (Nasdaq: AZTA) today reported preliminary results for its third fiscal quarter ended June 30, 2022.

The Company expects revenue of approximately $133 million, an increase of 3% compared to the third quarter of fiscal 2021. Year-over-year organic growth is expected to be 6%, after adjusting for approximately 3 percentage points of currency impact. GAAP diluted EPS from continuing operations is expected to be in the range of ($0.13) to ($0.08), driven lower than expected primarily due to income taxes. Non-GAAP diluted EPS is expected to be in the range of $0.08 to $0.12.

The stocks have a year to date performance of -40.09 percent and weekly performance of -19.80 percent. The stock has been moved at -34.42 percent over the last six months. The stock has performed -10.84 percent around the most recent 30 days and changed -20.83 percent over the most recent 3-months.

If compared to the average trading volume of 618.91K shares, AZTA reached to a volume of 2873878 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Azenta Inc. [AZTA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AZTA shares is $96.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AZTA stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Azenta Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 31, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on March 21, 2022, representing the official price target for Azenta Inc. stock.

The Average True Range (ATR) for Azenta Inc. is set at 3.54, with the Price to Sales ratio for AZTA stock in the period of the last 12 months amounting to 8.46. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 36.47.

AZTA stock trade performance evaluation

Azenta Inc. [AZTA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.80. With this latest performance, AZTA shares dropped by -10.84% in over the last four-week period, additionally sinking by -34.42% over the last 6 months – not to mention a drop of -29.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AZTA stock in for the last two-week period is set at 30.41, with the RSI for the last a single of trading hit 22.95, and the three-weeks RSI is set at 35.17 for Azenta Inc. [AZTA]. The present Moving Average for the last 50 days of trading for this stock 72.71, while it was recorded at 72.62 for the last single week of trading, and 89.31 for the last 200 days.

Azenta Inc. [AZTA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Azenta Inc. [AZTA] shares currently have an operating margin of +0.70 and a Gross Margin at +41.76. Azenta Inc.’s Net Margin is presently recorded at -5.62.

Return on Total Capital for AZTA is now 0.26, given the latest momentum, and Return on Invested Capital for the company is -2.13. Return on Equity for this stock declined to -2.27, with Return on Assets sitting at -1.71. When it comes to the capital structure of this company, Azenta Inc. [AZTA] has a Total Debt to Total Equity ratio set at 7.15. Additionally, AZTA Total Debt to Total Capital is recorded at 6.67, with Total Debt to Total Assets ending up at 5.52. Long-Term Debt to Equity for the company is recorded at 7.15, with the Long-Term Debt to Total Capital now at 6.67.

Receivables Turnover for the company is 3.16 with a Total Asset Turnover recorded at a value of 0.30.Azenta Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 4.90.

Earnings per share (EPS) analysis for Azenta Inc. [AZTA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AZTA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Azenta Inc. go to 12.00%.

Azenta Inc. [AZTA]: Insider Ownership positions

There are presently around $5,575 million, in the hands of institutional investors. The top three institutional holders of AZTA stocks are: VANGUARD GROUP INC with ownership of 7,225,033, which is approximately 3.807% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 6,932,547 shares of the stock with an approximate value of $514.12 million in AZTA stocks shares; and KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC, currently with $307.11 million in AZTA stock with ownership of nearly 0.24% of the company’s market capitalization.

Positions in Azenta Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 185 institutional holders increased their position in Azenta Inc. [NASDAQ:AZTA] by around 10,180,072 shares. Additionally, 203 investors decreased positions by around 5,316,560 shares, while 55 investors held positions by with 59,675,946 shares. The mentioned changes placed institutional holdings at 75,172,578 shares, according to the latest SEC report filing. AZTA stock had 42 new institutional investments in for a total of 1,126,375 shares, while 61 institutional investors sold positions of 1,172,010 shares during the same period.