Perceptron (PRCP) Downgraded to Strong Sell at Zacks Investment Research

Perceptron (NASDAQ:PRCP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

PRCP has been the subject of a number of other research reports. ValuEngine cut shares of Perceptron from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. TheStreet cut shares of Perceptron from a “b-” rating to a “c” rating in a research report on Monday. Finally, B. Riley set a $10.00 target price on shares of Perceptron and gave the stock a “buy” rating in a research report on Monday.

Shares of PRCP opened at $4.90 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. The stock has a market cap of $49.92 million, a price-to-earnings ratio of 12.56 and a beta of 0.66. Perceptron has a 12-month low of $4.77 and a 12-month high of $12.25.

Perceptron (NASDAQ:PRCP) last announced its earnings results on Thursday, May 9th. The scientific and technical instruments company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). The business had revenue of $15.63 million for the quarter, compared to analyst estimates of $18.40 million. Perceptron had a return on equity of 3.47% and a net margin of 2.61%. As a group, research analysts anticipate that Perceptron will post 0.45 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Quantum Capital Management raised its position in shares of Perceptron by 14.9% in the fourth quarter. Quantum Capital Management now owns 137,877 shares of the scientific and technical instruments company’s stock valued at $1,124,000 after buying an additional 17,887 shares during the last quarter. Penbrook Management LLC raised its position in shares of Perceptron by 8.7% in the first quarter. Penbrook Management LLC now owns 173,993 shares of the scientific and technical instruments company’s stock valued at $1,305,000 after buying an additional 13,950 shares during the last quarter. Vanguard Group Inc raised its position in shares of Perceptron by 1.1% in the third quarter. Vanguard Group Inc now owns 287,783 shares of the scientific and technical instruments company’s stock valued at $2,806,000 after buying an additional 3,100 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of Perceptron by 3.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 585,644 shares of the scientific and technical instruments company’s stock valued at $4,392,000 after buying an additional 19,060 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Perceptron by 0.4% in the first quarter. Renaissance Technologies LLC now owns 599,599 shares of the scientific and technical instruments company’s stock valued at $4,497,000 after buying an additional 2,199 shares during the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.

About Perceptron

Perceptron, Inc develops, produces, and sells various automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection, and 3D scanning in Europe, Asia, and the Americas. It provides various in-line and near-line measurement solutions, including AutoGauge, AutoGauge ACF, AutoGuide, and Helix evo engineered metrology systems for industrial automated process control and assembly using fixed and robot mounted laser scanners; and offline measurement solutions comprising Coord3 and TouchDMIS for industrial gauging and dimensional inspection using standalone robot mounted laser scanners and coordinate measuring machines.

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