In a report released yesterday, Christopher Van Horn from B.Riley FBR maintained a Buy rating on Perceptron (PRCP), with a price target of $10. The company’s shares closed yesterday at $5.19, close to its 52-week low of $5.06.
Van Horn commented:
“Despite a challenging 3Q19, we maintain our Buy rating on shares of Perceptron (PRCP), given a significant portion of risk is now priced into the name. We decrease our $10, which, we think, reflects a fair valuation. The global auto industry is a challenging environment; given PRCP’s leverage to new program launches, there is likely to be some volatility in the name over the next quarter or two. However, we think investors can take a long-term view on the stock and own shares heading into FY20 and beyond. Given a change in OEM production schedules, we have seen many suppliers either cut or become cautious around the balance of 2019 and cautiously optimistic around 2020. In our view, many new program launches are either being postponed or pushed the right.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 1.4% and a 47.1% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Hold analyst consensus rating for Perceptron.
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Based on Perceptron’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.07 million. In comparison, last year the company had a net profit of $1.02 million.
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Perceptron, Inc. engages in the development, production, and trade of automated industrial metrology products and solutions. It operates through the following geographical segments: Americas, Europe, and Asia. It offers 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning, and advanced analysis software.
