Zacks Investment Research Downgrades Hollysys Automation Technologies Ltd. (HOLI) to Hold
Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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. “
Shares of Hollysys Automation Technologies (NASDAQ:HOLI) opened at 18.19 on Thursday. Hollysys Automation Technologies has a 12-month low of $15.00 and a 12-month high of $23.55. The firm has a market cap of $1.09 billion, a PE ratio of 9.97 and a beta of 1.59. The firm’s 50-day moving average is $20.62 and its 200-day moving average is $19.53.
Hollysys Automation Technologies (NASDAQ:HOLI) last issued its quarterly earnings results on Monday, November 14th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $103.50 million for the quarter, compared to analyst estimates of $141.76 million. Hollysys Automation Technologies had a net margin of 21.02% and a return on equity of 17.04%. Hollysys Automation Technologies’s revenue for the quarter was down 17.3% compared to the same quarter last year. Equities analysts expect that Hollysys Automation Technologies will post $2.12 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which was paid on Friday, November 11th. Stockholders of record on Wednesday, October 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, October 24th. Hollysys Automation Technologies’s dividend payout ratio (DPR) is 10.99%.
Several hedge funds and other institutional investors have recently modified their holdings of HOLI. Emerald Acquisition Ltd. acquired a new position in shares of Hollysys Automation Technologies during the third quarter worth approximately $135,000. BNP Paribas Arbitrage SA raised its position in Hollysys Automation Technologies by 984.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,639 shares of the company’s stock worth $147,000 after buying an additional 6,027 shares during the last quarter. Rational Advisors LLC purchased a new position in Hollysys Automation Technologies during the second quarter worth about $118,000. JPMorgan Chase & Co. raised its position in Hollysys Automation Technologies by 628.3% in the second quarter. JPMorgan Chase & Co. now owns 8,739 shares of the company’s stock worth $152,000 after buying an additional 7,539 shares during the last quarter. Finally, HBK Investments L P purchased a new position in Hollysys Automation Technologies during the first quarter worth about $227,000. 53.55% of the stock is currently owned by institutional investors.
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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