In a report released today, Amit Dayal from H.C. Wainwright reiterated a Buy rating on Pointer Telocation Ltd (PNTR), with a price target of $24.50. The company’s shares closed yesterday at $12.
Dayal wrote:
“We believe there was a $1.8M impact on the top line in 3Q18 due to dollar strength. Similarly, Product revenues have slowed down this year as the company is preparing to launch new generation offerings in the market in 2019. Despite these hurdles the company put up a solid quarter with gross margin improvements and tight control over operating costs to yield net profits and EPS similar to 3Q17 levels where revenues were 7.4% higher. In line with this, the company generated $3.1M in operating cash flow in the quarter and lowered its debt by over $1.2M, further strengthening its balance sheet. We believe the company is positioned for stronger revenue growth in 2019 underpinned with the launch of the LTE offering in CANiQ sales in the Indian public transportation market.”
According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.8% and a 29.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and UQM Technologies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pointer Telocation Ltd with a $24.50 average price target.
See today’s analyst top recommended stocks >>
Based on Pointer Telocation Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.93 million. In comparison, last year the company had a net profit of $1.88 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Pointer Telocation Ltd. engages in mobile resource management products and services. It operates through the following segments: Mobile Resource Management (MRM), Roadside Assistance Services, and Cellocator. The MRM segment offers asset tracking services, fleet management services, and stolen vehicle retrieval services.
