Noble Financial Upgrades Western Digital to Buy (WDC)
Western Digital (NYSE: WDC) was upgraded by investment analysts at Noble Financial from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
Shares of Western Digital traded up 2.99% during mid-day trading on Monday, hitting $39.97. Western Digital has a 52 week low of $22.64 and a 52 week high of $44.44. The company has a market cap of $9.633 billion and a P/E ratio of 9.05.
The company last announced its quarterly results on Thursday, April 26th. It reported $2.52 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.55 EPS by $0.97. The company’s quarterly revenue was up 34.8% on a year-over-year basis. On average, analysts predict that Western Digital will post $2.70 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Western Digital from $45.00 to $49.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Bank of America (NYSE: BAC) downgraded shares of Western Digital from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $46.00 price target on the stock, down previously from $54.00. Finally, analysts at Craig Hallum downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $37.00 price target on the stock.
Western Digital Corporation (WD) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.