Accuray Inc. (ARAY) Rating Reiterated by Jefferies Group
Accuray Inc. (NASDAQ:ARAY)‘s stock had its “buy” rating restated by Jefferies Group in a report released on Tuesday. They currently have a $8.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 29.87% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Cowen and Company assumed coverage on Accuray in a research note on Tuesday, September 13th. They set an “outperform” rating and a $9.00 price objective for the company. Morgan Stanley set a $8.00 price objective on Accuray and gave the company a “hold” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $8.46.
Shares of Accuray (NASDAQ:ARAY) opened at 6.16 on Tuesday. The company’s market cap is $502.50 million. The company’s 50-day moving average price is $5.49 and its 200 day moving average price is $5.44. Accuray has a one year low of $4.75 and a one year high of $7.54.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, August 17th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.02. The company had revenue of $95 million for the quarter, compared to analysts’ expectations of $98.97 million. Accuray had a negative net margin of 5.55% and a negative return on equity of 35.82%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that Accuray will post ($0.17) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Accuray by 2.0% in the second quarter. Vanguard Group Inc. now owns 5,745,080 shares of the company’s stock worth $29,817,000 after buying an additional 111,375 shares during the last quarter. Boston Partners raised its stake in shares of Accuray by 4.0% in the second quarter. Boston Partners now owns 4,557,399 shares of the company’s stock valued at $23,653,000 after buying an additional 174,879 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Accuray by 9.5% in the second quarter. Neuberger Berman Group LLC now owns 3,330,140 shares of the company’s stock valued at $17,283,000 after buying an additional 288,769 shares during the last quarter. Heartland Advisors Inc. raised its stake in shares of Accuray by 8.5% in the second quarter. Heartland Advisors Inc. now owns 2,975,037 shares of the company’s stock valued at $15,440,000 after buying an additional 232,710 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Accuray by 22.2% in the first quarter. Renaissance Technologies LLC now owns 2,781,400 shares of the company’s stock valued at $16,076,000 after buying an additional 505,877 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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