Perceptron, Inc. (NASDAQ:PRCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $9.00 target price on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.28% from the company’s previous close.

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 (NASDAQ PRCP) opened at 7.88 on Thursday. The stock has a 50 day moving average price of $7.55 and a 200 day moving average price of $7.71. The stock’s market capitalization is $74.40 million. Perceptron has a one year low of $5.59 and a one year high of $8.95.

Perceptron (NASDAQ:PRCP) last released its quarterly earnings results on Monday, August 28th. The scientific and technical instruments company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.02). The firm had revenue of $22.35 million for the quarter, compared to analysts’ expectations of $19.80 million. Perceptron had a negative net margin of 0.22% and a positive return on equity of 1.00%. Equities analysts forecast that Perceptron will post $0.41 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kennedy Capital Management Inc. raised its position in Perceptron by 2.9% in the second quarter. Kennedy Capital Management Inc. now owns 27,874 shares of the scientific and technical instruments company’s stock valued at $203,000 after purchasing an additional 788 shares during the period. Northern Trust Corp raised its position in Perceptron by 3.3% in the second quarter. Northern Trust Corp now owns 31,207 shares of the scientific and technical instruments company’s stock valued at $227,000 after purchasing an additional 983 shares during the period. Goldman Sachs Group Inc. raised its position in Perceptron by 21.6% in the second quarter. Goldman Sachs Group Inc. now owns 15,505 shares of the scientific and technical instruments company’s stock valued at $113,000 after purchasing an additional 2,752 shares during the period. Royce & Associates LP raised its position in Perceptron by 1.2% in the second quarter. Royce & Associates LP now owns 868,830 shares of the scientific and technical instruments company’s stock valued at $6,325,000 after purchasing an additional 10,000 shares during the period. Finally, Wells Fargo & Company MN raised its position in 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 valued at $516,000 after purchasing an additional 15,200 shares during the period. 63.05% of the stock is currently owned by institutional investors.

Perceptron Company Profile

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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