Neogen (NASDAQ:NEOG) Stock Rating Upgraded by Wall Street Zen

Neogen (NASDAQ:NEOG) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also recently issued reports on NEOG. Piper Sandler upgraded shares of Neogen from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $14.00 in a research note on Wednesday, August 26th. Weiss Ratings upgraded shares of Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Neogen Price Performance

NEOG opened at $11.78 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of -392.67, a price-to-earnings-growth ratio of 4.42 and a beta of 1.76. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.82 and a quick ratio of 2.91. Neogen has a fifty-two week low of $4.90 and a fifty-two week high of $12.85. The business has a 50-day moving average of $10.98 and a 200-day moving average of $9.92.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Neogen had a positive return on equity of 2.78% and a negative net margin of 0.91%.The business had revenue of $225.30 million during the quarter, compared to analysts’ expectations of $212.35 million. During the same quarter in the previous year, the business posted ($2.82) EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Neogen will post 0.27 EPS for the current fiscal year.

Institutional Trading of Neogen

Several large investors have recently modified their holdings of NEOG. BlackRock Inc. acquired a new position in Neogen in the 2nd quarter valued at $300,545,000. Cibc World Markets Corp acquired a new position in Neogen during the 4th quarter worth $47,983,000. T. Rowe Price Investment Management Inc. boosted its holdings in Neogen by 249.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,181,768 shares of the company’s stock valued at $57,191,000 after acquiring an additional 5,838,570 shares during the period. Bamco Inc. NY bought a new stake in Neogen during the second quarter valued at about $45,094,000. Finally, SG Americas Securities LLC boosted its holdings in Neogen by 287.4% during the first quarter. SG Americas Securities LLC now owns 6,266,033 shares of the company’s stock valued at $58,211,000 after acquiring an additional 4,648,436 shares during the period. 96.73% of the stock is owned by institutional investors.

About Neogen

Neogen Corporation develops and markets products and services designed to protect food, animals and people. The company’s offerings help customers detect, prevent and manage biological, chemical and physical hazards across the food production, agricultural and animal care industries.

Its food safety portfolio includes test kits and related technologies for detecting pathogens, allergens, mycotoxins, spoilage organisms, veterinary drug residues and other contaminants. Neogen also provides sanitation and hygiene products, diagnostic tools, laboratory services, software and training for food manufacturers, processors, retailers and other organizations involved in the food supply chain.

Neogen’s animal safety business serves livestock, poultry, companion animal and veterinary markets.