Zacks Investment Research upgraded shares of Perceptron, Inc. (NASDAQ:PRCP) from a hold rating to a buy rating in a research note published on Tuesday, July 11th. The brokerage currently has $8.25 price target on the scientific and technical instruments company’s stock.

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. “

Shares of Perceptron (PRCP) opened at 7.26 on Tuesday. Perceptron has a 1-year low of $4.93 and a 1-year high of $8.95. The firm’s 50-day moving average is $7.41 and its 200-day moving average is $7.74. The company’s market cap is $68.39 million.

Perceptron (NASDAQ:PRCP) last issued its earnings results on Monday, May 8th. The scientific and technical instruments company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. Perceptron had a positive return on equity of 2.32% and a negative net margin of 21.55%. The company had revenue of $16.33 million during the quarter, compared to analysts’ expectations of $17.50 million. On average, equities analysts forecast that Perceptron will post $0.06 earnings per share for the current fiscal year.

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In related news, Director James A. Ratigan purchased 3,910 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $7.66 per share, for a total transaction of $29,950.60. Following the transaction, the director now owns 2,247 shares of the company’s stock, valued at $17,212.02. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.31% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Perceptron by 6.5% in the first quarter. Renaissance Technologies LLC now owns 529,300 shares of the scientific and technical instruments company’s stock worth $4,414,000 after buying an additional 32,100 shares during the period. Punch & Associates Investment Management Inc. raised its position in shares of Perceptron by 8.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 405,800 shares of the scientific and technical instruments company’s stock worth $3,384,000 after buying an additional 30,067 shares during the period. Algert Global LLC raised its position in shares of Perceptron by 40.0% in the second quarter. Algert Global LLC now owns 82,460 shares of the scientific and technical instruments company’s stock worth $600,000 after buying an additional 23,556 shares during the period. Wells Fargo & Company MN raised its position in shares of Perceptron by 32.6% in the first quarter. Wells Fargo & Company MN now owns 61,886 shares of the scientific and technical instruments company’s stock worth $516,000 after buying an additional 15,200 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of Perceptron during the first quarter worth about $217,000. 63.00% of the stock is owned by institutional investors and hedge funds.

About Perceptron

Perceptron, Inc develops, produces and sells a range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and three-dimensional (3D) scanning. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines (CMMs), laser scanning and advanced analysis software.

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