Perceptron Inc. (PRCP) Rating Increased to Buy at Zacks Investment Research
Perceptron Inc. (NASDAQ:PRCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $7.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.72% from the company’s current price.
According to Zacks, “Perceptron, Inc. designs, manufactures and markets information based process measurement and guidance solutions which help customers improve performance. Perceptron’s product offerings are designed to improve quality,increase productivity and decrease costs in the automotive and forest products workplace. Perceptron’s design philosophy is to create systems which incorporate sophisticated proprietary software and hardware to minimize the need for customer application engineering. “
Separately, Canaccord Genuity restated a “buy” rating and set a $8.00 target price on shares of Perceptron in a research note on Wednesday, August 31st.
Shares of Perceptron (NASDAQ:PRCP) opened at 6.21 on Thursday. Perceptron has a one year low of $4.18 and a one year high of $9.12. The company’s market capitalization is $58.19 million. The stock has a 50 day moving average of $6.38 and a 200-day moving average of $5.54.
Perceptron (NASDAQ:PRCP) last released its earnings results on Monday, November 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.18. Perceptron had a negative return on equity of 8.24% and a negative net margin of 31.24%. The firm had revenue of $17.50 million for the quarter, compared to the consensus estimate of $17.80 million. On average, equities analysts expect that Perceptron will post $0.15 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Perceptron during the first quarter worth about $246,000. Punch & Associates Investment Management Inc. raised its position in Perceptron by 14.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 262,000 shares of the company’s stock worth $1,226,000 after buying an additional 33,000 shares during the period. Franklin Resources Inc. acquired a new position in Perceptron during the second quarter worth $205,000. Ancora Advisors LLC raised its position in Perceptron by 10.0% in the second quarter. Ancora Advisors LLC now owns 66,225 shares of the company’s stock worth $310,000 after buying an additional 6,000 shares during the period. Finally, Penbrook Management LLC raised its position in Perceptron by 3.7% in the third quarter. Penbrook Management LLC now owns 127,098 shares of the company’s stock worth $854,000 after buying an additional 4,500 shares during the period. 70.03% of the stock is owned by institutional investors and hedge funds.
Perceptron, Inc (Perceptron) develops, produces and sells a range of automated industrial dimensional inspection and three-dimensional (3D) scanning products. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning, and advanced analysis software.
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