Perceptron Inc. (NASDAQ:PRCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
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. “
Separately, Canaccord Genuity restated a “buy” rating and set a $8.00 price objective on shares of Perceptron in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.13.
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Shares of Perceptron (NASDAQ:PRCP) opened at 6.78 on Thursday. Perceptron has a one year low of $4.18 and a one year high of $10.46. The firm’s 50-day moving average price is $5.90 and its 200-day moving average price is $5.09. The stock’s market capitalization is $63.52 million.
Perceptron (NASDAQ:PRCP) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.12. The business earned $18.70 million during the quarter, compared to analyst estimates of $17.35 million. Equities research analysts anticipate that Perceptron will post $0.15 EPS for the current fiscal year.
A number of hedge funds recently made changes to their positions in PRCP. Punch & Associates Investment Management Inc. increased its stake in shares of Perceptron by 14.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 262,000 shares of the company’s stock valued at $1,226,000 after buying an additional 33,000 shares in the last quarter. First Republic Investment Management Inc. increased its stake in shares of Perceptron by 1.1% in the first quarter. First Republic Investment Management Inc. now owns 71,065 shares of the company’s stock valued at $345,000 after buying an additional 790 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Perceptron during the first quarter valued at about $246,000. Renaissance Technologies LLC increased its stake in shares of Perceptron by 3.2% in the first quarter. Renaissance Technologies LLC now owns 508,094 shares of the company’s stock valued at $2,464,000 after buying an additional 15,594 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Perceptron by 2.9% in the first quarter. Royce & Associates LP now owns 1,168,526 shares of the company’s stock valued at $5,667,000 after buying an additional 32,646 shares in the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.
Perceptron, Inc (Perceptron) develops, produces and sells a range of automated industrial dimensional inspection and three-dimensional (3D) scanning products. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning, and advanced analysis software.
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