Hollysys Automation Technologies Ltd. (HOLI) Rating Increased to Buy at Zacks Investment Research
Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $21.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.82% from the company’s current price.
According to Zacks, “HLS SYSTEMS INTERNATIONAL has become one of the leading automation systems providers in the People’s Republic of China, developing a number of core technologies and completing numerous projects utilizing a wide array of automation products. With its philosophy of sincere concern for customers and its technical innovation capabilities, HLS Systems International specializes in the research, development, production, sale and distribution of industrial automation for digital railway signals and information systems, e-government, motor drive transmissions and safety controls for nuclear power reactors. “
Hollysys Automation Technologies (NASDAQ:HOLI) last announced its earnings results on Monday, November 14th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.10. Hollysys Automation Technologies had a return on equity of 17.04% and a net margin of 21.02%. The company had revenue of $103.50 million for the quarter, compared to analyst estimates of $141.76 million. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year.
The business also recently announced an annual dividend, which was paid on Friday, November 11th. Stockholders of record on Wednesday, October 26th were given a dividend of $0.20 per share. The ex-dividend date was Monday, October 24th. Hollysys Automation Technologies’s payout ratio is 10.99%.
Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of Hollysys Automation Technologies by 1.3% in the second quarter. Handelsbanken Fonder AB now owns 1,492,112 shares of the company’s stock valued at $25,918,000 after buying an additional 19,500 shares in the last quarter. Barclays PLC raised its position in shares of Hollysys Automation Technologies by 17.9% in the first quarter. Barclays PLC now owns 238,698 shares of the company’s stock valued at $5,012,000 after buying an additional 36,219 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Hollysys Automation Technologies by 28.1% in the second quarter. BlackRock Advisors LLC now owns 213,860 shares of the company’s stock valued at $3,715,000 after buying an additional 46,934 shares in the last quarter. British Airways Pensions Investment Management Ltd raised its position in shares of Hollysys Automation Technologies by 63.0% in the second quarter. British Airways Pensions Investment Management Ltd now owns 346,381 shares of the company’s stock valued at $6,040,000 after buying an additional 133,870 shares in the last quarter. Finally, Boston Partners raised its position in shares of Hollysys Automation Technologies by 22.9% in the second quarter. Boston Partners now owns 769,248 shares of the company’s stock valued at $13,362,000 after buying an additional 143,244 shares in the last quarter. Institutional investors own 53.55% of the company’s stock.
About Hollysys Automation Technologies
Hollysys Automation Technologies Ltd. is a provider of automation and control technologies, and products. The Company’s segments include Industrial Automation (IA), Rail Transportation (rail), Mechanical and Electrical (M&E), and Miscellaneous. Its technologies are applied through its industrial automation solution suite, including the Distributed Control Systems, Programmable Logic Controller, Real-time Management Information System, HolliAS Asset Management System, Operator Training System, Batch Application Package, Advanced Process Control Package (HolliAS APC Suite), Safety Instrumentation System (SIS), railway signaling system of Train Control Center, Automatic Train Protection, Subway Supervisory and Control platform, nuclear power non-safety automation and control system HolliAs-NMS DCS and other products.
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