B.Riley FBR analyst Josh Nichols reiterated a Buy rating on Pointer Telocation Ltd (NASDAQ: PNTR) today and set a price target of $20. The company’s shares opened today at $11.55, close to its 52-week low of $10.25.
Nichols observed:
“Buy-rated Pointer Telocation (PNTR, $20 PT) reported 2Q results on Tuesday, before the open, with shares closing up 7% due to robust operating performance (vs. the Russell 2000 that fell 1.3%). Revenue of $20M was in line with our projection but below consensus of $21M due to $1M of FX headwinds related to Latin America (Argentine Peso devalued 30% against the dollar in 2Q), although Services revenue was up 8% Y/Y on a constant currency basis. Regardless, operating performance was undoubtedly resilient with EBITDA and pro forma EPS of $3.4M (17.1% EBITDA margin) and $0.30 surpassing our and consensus estimates of $3.1M and $0.25, respectively.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 25.7% and a 57.4% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Immersion Corp, and Horizon Global.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pointer Telocation Ltd with a $22.25 average price target, implying a 92.6% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $24.50 price target.
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Based on Pointer Telocation Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.77 million. In comparison, last year the company had a net profit of $1.97 million.
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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.
