An analyst raised Xyratex’s price target on Friday, as the data storage and technology company’s fiscal first-quarter results topped Wall Street’s expectations.
Late Thursday, Xyratex Ltd. reported an adjusted loss of 13 cents per share for its first quarter with revenue coming in at $195.6 million. Analysts polled by FactSet expected a loss of 18 cents per share on revenue of $177.3 million.
For the second quarter, the company anticipates between a loss of 15 cents per share to a profit of 9 cents per share. Revenue is expected in a range of $190 million to $220 million.
Wall Street predicts a loss of 13 cents per share on revenue of $202.7 million.
Shares of Xyratex Ltd. (NASDAQ:XRTX) opened at $10.83 with 27.02 million outstanding shares and touch its highest price of $11.09 of the day and then finished at $10.89 by scoring +3.42%, as in the whole session stocks gain volume of 564,681 shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 85.31% while insider ownership included 22.91%. The share capital of XRTX has 27.02 million outstanding shares amid them 20.12 million shares have been floated in market.
For investors focus on the performance of the stocks so the XRTX showed weekly ahead performance of 10.00% which was maintained for the month at 12.27%. Correspondingly the positive performance for the quarter was remained 32.64% and if took notice on yearly performance that was -12.18% whereas the year to date performance halted at 29.49%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the XRTX return on investment was recorded as 4.75% as compare to its rivals has Western Digital Corp. (NASDAQ:WDC)’s ROI 24.70%, Quantum Corp (NYSE:QTM)’s ROI -25.00%, Fusion-IO, Inc. (NYSE:FIO)’s ROI -0.28%, STEC, Inc. (NASDAQ:STEC)’s ROI -29.06%.
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