Jason Industries Inc. (JASN) Upgraded to Hold at Zacks Investment Research
Jason Industries Inc. (NASDAQ:JASN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Jason Industries, Inc. engages in the manufacturing of Finishing, Seating, Components, and Automotive Acoustics. It produces finishing products, including industrial brushes, buffing wheels, and buffing compounds; supplies seating solutions to equipment manufacturers in the motorcycle, lawn and turf care, industrial, agricultural, construction, and power sports end markets, as well as original equipment manufacturer seating for the heavyweight motorcycles; manufactures engineered non-woven, fiber-based acoustical products; manufactures stamped, formed, expanded, and perforated metal components and subassemblies. Jason Industries, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, Stifel Nicolaus lowered their target price on shares of Jason Industries from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 5th.
Jason Industries (NASDAQ:JASN) opened at 2.13 on Wednesday. Jason Industries has a 1-year low of $1.87 and a 1-year high of $5.10. The company has a 50 day moving average price of $2.19 and a 200 day moving average price of $3.31. The firm’s market cap is $47.70 million.
Jason Industries (NASDAQ:JASN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.14. Jason Industries had a negative return on equity of 2.17% and a negative net margin of 10.86%. On average, equities research analysts forecast that Jason Industries will post ($0.11) earnings per share for the current year.
In other news, major shareholder Wynnefield Partners Small Cap purchased 15,330 shares of the firm’s stock in a transaction on Saturday, December 31st. The stock was bought at an average cost of $3.42 per share, for a total transaction of $52,428.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffry N. Quinn purchased 100,700 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $2.17 per share, with a total value of $218,519.00. The disclosure for this purchase can be found here. Company insiders own 23.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. boosted its stake in Jason Industries by 20.2% in the second quarter. Heartland Advisors Inc. now owns 1,201,900 shares of the company’s stock worth $4,339,000 after buying an additional 201,900 shares during the period. Lorber David A bought a new stake in Jason Industries during the first quarter valued at $129,000. Credit Agricole S A boosted its stake in Jason Industries by 1.6% in the first quarter. Credit Agricole S A now owns 137,844 shares of the company’s stock valued at $482,000 after buying an additional 2,126 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Jason Industries by 0.6% in the second quarter. Gamco Investors INC. ET AL now owns 35,500 shares of the company’s stock valued at $128,000 after buying an additional 200 shares during the last quarter. Institutional investors own 58.60% of the company’s stock.
About Jason Industries
Jason Industries is the parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Indiana and Burgwald, Germany) and Sealeze (Richmond, Va.).
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