Cray Inc. (NASDAQ:CRAY) Receives $39.80 Average Target Price from Brokerages
Shares of Cray Inc. (NASDAQ:CRAY) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $39.80.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. KeyCorp dropped their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Stifel Nicolaus dropped their price objective on Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Finally, Pacific Crest assumed coverage on Cray in a research note on Thursday, July 28th. They set an “overweight” rating and a $41.00 price objective for the company.
In other Cray news, SVP Michael Charles Piraino sold 15,000 shares of Cray stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $21.97, for a total transaction of $329,550.00. Following the completion of the sale, the senior vice president now owns 63,937 shares of the company’s stock, valued at $1,404,695.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its stake in Cray by 608.7% in the first quarter. Meeder Asset Management Inc. now owns 7,101 shares of the company’s stock worth $298,000 after buying an additional 6,099 shares during the period. State Street Corp raised its stake in Cray by 20.1% in the first quarter. State Street Corp now owns 819,747 shares of the company’s stock worth $34,358,000 after buying an additional 137,100 shares during the period. Menta Capital LLC bought a new stake in Cray during the first quarter worth $407,000. BlackRock Institutional Trust Company N.A. raised its stake in Cray by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,000,267 shares of the company’s stock worth $41,921,000 after buying an additional 5,584 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Cray by 145.6% in the first quarter. BlackRock Fund Advisors now owns 2,520,569 shares of the company’s stock worth $105,637,000 after buying an additional 1,494,255 shares during the period. 92.65% of the stock is owned by institutional investors.
Shares of Cray (NASDAQ:CRAY) opened at 22.55 on Thursday. The stock has a 50 day moving average price of $23.15 and a 200 day moving average price of $30.55. Cray has a 52 week low of $20.27 and a 52 week high of $43.79. The firm has a market cap of $897.74 million, a PE ratio of 71.59 and a beta of 1.39.
Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The company earned $100.20 million during the quarter, compared to analysts’ expectations of $101.36 million. Cray had a net margin of 1.96% and a return on equity of 5.72%. Cray’s revenue for the quarter was down 46.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Equities analysts expect that Cray will post $0.45 earnings per share for the current year.
Cray Company Profile
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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