Hurco Companies (NASDAQ:HURC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Hurco Companies (NASDAQ:HURC) from a hold rating to a sell rating in a research note released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Hurco Companies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Hurco Companies Price Performance

HURC stock opened at $17.27 on Friday. The company has a 50 day moving average price of $15.98 and a 200 day moving average price of $17.40. Hurco Companies has a fifty-two week low of $13.19 and a fifty-two week high of $23.45. The stock has a market capitalization of $110.70 million, a PE ratio of -7.38 and a beta of 0.65.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, January 9th. The scientific and technical instruments company reported ($0.47) EPS for the quarter. The firm had revenue of $45.47 million during the quarter. Hurco Companies had a negative net margin of 8.47% and a negative return on equity of 7.53%.

Institutional Investors Weigh In On Hurco Companies

A number of institutional investors have recently added to or reduced their stakes in HURC. Hillsdale Investment Management Inc. bought a new position in Hurco Companies in the third quarter worth about $322,000. George Kaiser Family Foundation grew its position in shares of Hurco Companies by 57.3% in the 2nd quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock worth $850,000 after buying an additional 16,377 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Hurco Companies during the 3rd quarter worth approximately $992,000. Finally, Ameriprise Financial Inc. lifted its position in Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after acquiring an additional 1,733 shares during the last quarter. Institutional investors own 74.36% of the company’s stock.

About Hurco Companies

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.