Xyratex Falls 13.7% On Earnings And Guidance (XRTX)

Shares of Xyratex Ltd. XRTX ended the Friday trading session down 13.7% at $14.78 per share. After the market closed on Thursday, Xyratex Ltd reported adjusted earnings of 69 cents per share, which was below the 74 cents per share Wall Street consensus estimate. The company forecast 1st quarter adjusted earnings of 12 cents to 48 cents per share, on revenue of $355 to $405 million. The day's range for shares of Xyratex Ltd was between $14.67 and $15.54 per share. The average price target of analysts who cover Xyratex Ltd. (XRTX) is $20.33 per share. Volume of 2.8 million shares was more than 6 times the daily average volume of 446,000 shares. Xyratex Ltd is a leading provider of enterprise class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEM and disk drive manufacturers with data storage products to support high-performance storage and data communication networks. Read more from Benzinga's Company news.