Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note 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. “
Shares of Rofin-Sinar Technologies (NASDAQ:RSTI) opened at 32.25 on Wednesday. The company has a 50 day moving average of $32.15 and a 200 day moving average of $32.00. The firm has a market capitalization of $916.35 million, a PE ratio of 27.61 and a beta of 1.98. Rofin-Sinar Technologies has a 52-week low of $19.02 and a 52-week high of $32.50.
Rofin-Sinar Technologies (NASDAQ:RSTI) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The business earned $125.94 million during the quarter, compared to the consensus estimate of $130.90 million. Rofin-Sinar Technologies had a net margin of 6.80% and a return on equity of 7.04%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, analysts anticipate that Rofin-Sinar Technologies will post $1.12 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of RSTI. Tower Research Capital LLC TRC acquired a new stake in shares of Rofin-Sinar Technologies during the second quarter worth $102,000. Teacher Retirement System of Texas increased its stake in shares of Rofin-Sinar Technologies by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,971 shares of the company’s stock worth $127,000 after buying an additional 481 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Rofin-Sinar Technologies during the second quarter worth $177,000. Shufro Rose & Co. LLC acquired a new stake in shares of Rofin-Sinar Technologies during the first quarter worth $209,000. Finally, BlackRock Inc. increased its stake in shares of Rofin-Sinar Technologies by 285.0% in the second quarter. BlackRock Inc. now owns 7,234 shares of the company’s stock worth $231,000 after buying an additional 5,355 shares during the last quarter. 88.14% of the stock is owned by institutional investors.
Rofin-Sinar Technologies Company Profile
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.