Zacks: LRAD Corp (NASDAQ:LRAD) Receives Consensus Recommendation of “Strong Buy” from Brokerages

LRAD Corp (NASDAQ:LRAD) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price target of $5.00 for the company and are forecasting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also given LRAD an industry rank of 108 out of 256 based on the ratings given to related companies.

A number of research analysts have recently issued reports on the company. CIBC assumed coverage on LRAD in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $5.00 target price on the stock. UBS Group assumed coverage on LRAD in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Oppenheimer assumed coverage on LRAD in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $5.00 target price on the stock.

Shares of NASDAQ:LRAD traded up $0.07 during midday trading on Monday, reaching $3.98. 253,243 shares of the company’s stock traded hands, compared to its average volume of 72,474. LRAD has a 1 year low of $2.08 and a 1 year high of $4.24. The stock has a market cap of $133.55 million, a P/E ratio of -66.33 and a beta of 0.62. The company has a fifty day simple moving average of $3.82.

In other LRAD news, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $4.02, for a total value of $402,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of LRAD by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 128,241 shares of the scientific and technical instruments company’s stock worth $323,000 after acquiring an additional 13,762 shares during the last quarter. Pointe Capital Management LLC acquired a new stake in shares of LRAD in the 2nd quarter worth $33,000. WealthTrust Axiom LLC increased its stake in shares of LRAD by 53.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 15,300 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 5,300 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of LRAD by 306.9% in the 2nd quarter. Wells Fargo & Company MN now owns 28,485 shares of the scientific and technical instruments company’s stock worth $94,000 after acquiring an additional 21,485 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. acquired a new stake in shares of LRAD during the 2nd quarter worth about $112,000. Institutional investors own 48.13% of the company’s stock.

LRAD Company Profile

LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.

Further Reading: What is a conference call?

Get a free copy of the Zacks research report on LRAD (LRAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for LRAD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LRAD and related companies with MarketBeat.com's FREE daily email newsletter.