[Zacks] Mettler-Toledo International Inc (NYSE:MTD)(TREND ANALYSIS) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for MTD broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 4.6% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for MTD stock.
If that wasn’t enough, Mettler-Toledo isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 2 estimates have been reduced, while none have moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
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Mettler-Toledo International Inc (NYSE:MTD) stock is currently trading 19.09% below its 52-week-high, 24.08% above its 52-week-low. The 1-year stock price history is in the range of $228.3 – $350.11. Mettler-Toledo International Inc (MTD) has a price to earnings ratio of 23.62 versus Healthcare sector average of 43.93. MTD stock price has underperformed the S&P 500 by 2.1%. The Instruments Controls company is currently valued at $7.85 billion and its share price closed the last trading session at $283.27. The stock has a 50-day moving average of $291.48 and a 200-day moving average of $320.24.
Mettler-Toledo International Inc (MTD) current short interest stands at 1.2 million shares. It has decreased by 9% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.21 million shares, the number of days required to cover the short positions stand at 5.8 days.
The company is expected to announce next quarter earnings on November 05, at consensus estimate of $3.18. Mettler-Toledo International Inc (MTD) reported last quarter earnings on July 30. The Instruments Controls company announced earnings per share of $2.8 against a consensus Street estimate of $2.78, beating the average estimate by $0.02. This corresponds to an increase of $0.21 compared to the same quarter of the previous fiscal year.
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There are currently thirteen analysts that cover Mettler-Toledo International Inc stock. Of those thirteen, two have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $308.73.
A recent analyst activity consisted of Citigroup reiterating their Neutral stance on July 31. Citigroup increased their price target on MTD from $325 to $345. This corresponds to a 21.79% upside from the last closing price. On the date of report, the stock closed at $337.6.
Jefferies reiterated their Hold stance on May 8, and increased their price target on MTD stock from $290 to $295. This corresponds to a 4.14% upside from the last closing price. On the date of report, the stock closed at $326.29.
Another research firm was JP Morgan who reiterated their Neutral stance on May 8. JP Morgan increased their price target on Mettler-Toledo International Inc from $275 to $300. This translates to a 5.91% upside from the last closing price. On the date of report, the stock closed at $326.29.
Mettler-Toledo International Inc. manufactures and markets weighing instruments for use in laboratory, industrial, and food retailing applications. The Company also supplies several related analytical and measurement technologies. Mettler-Toledo provides its services to customers worldwide.