Hurco Companies (NASDAQ:HURC) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded Hurco Companies to “Buy” from “Hold,” but Weiss Ratings maintained a “Sell (D-)” rating; MarketBeat’s overall analyst consensus remains “Sell.”
• Hurco shares opened at $21.79, down 3.5%, with a market capitalization of approximately $141.2 million and a 52-week range of $14.50 to $24.49.
• The company reported quarterly EPS of $0.35 on revenue of $47.29 million, while profitability remained weak with a negative 3.58% net margin; institutional investors own 74.36% of the stock.

Hurco Companies (NASDAQ:HURC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hurco Companies in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Hurco Companies Stock Down 3.5%

NASDAQ:HURC opened at $21.79 on Friday. The firm's fifty day simple moving average is $22.10 and its 200-day simple moving average is $19.14. The stock has a market cap of $141.20 million, a PE ratio of -21.16 and a beta of 0.70. Hurco Companies has a fifty-two week low of $14.50 and a fifty-two week high of $24.49.

Hurco Companies (NASDAQ:HURC - Get Free Report) last announced its quarterly earnings data on Friday, September 4th. The scientific and technical instruments company reported $0.35 EPS for the quarter. The firm had revenue of $47.29 million during the quarter. Hurco Companies had a negative net margin of 3.58% and a negative return on equity of 3.37%.

Institutional Investors Weigh In On Hurco Companies

A number of large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Hurco Companies during the second quarter worth about $199,000. Susquehanna International Group LLP purchased a new position in shares of Hurco Companies during the 2nd quarter worth approximately $202,000. Hsbc Holdings PLC purchased a new position in shares of Hurco Companies during the 2nd quarter worth approximately $357,000. GSA Capital Partners LLP acquired a new position in shares of Hurco Companies during the 2nd quarter worth approximately $499,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hurco Companies in the 2nd quarter valued at approximately $511,000. 74.36% of the stock is owned by institutional investors and hedge funds.

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.

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