ValuEngine Downgrades Hurco Companies (HURC) to Sell

ValuEngine downgraded shares of Hurco Companies (NASDAQ:HURC) from a hold rating to a sell rating in a report published on Saturday.

Separately, BidaskClub raised Hurco Companies from a strong sell rating to a sell rating in a research report on Saturday, September 1st.

HURC traded down $1.76 during trading on Friday, hitting $40.03. 29,242 shares of the stock were exchanged, compared to its average volume of 15,792. The firm has a market cap of $268.88 million, a price-to-earnings ratio of 11.91 and a beta of 0.37. Hurco Companies has a 1-year low of $38.30 and a 1-year high of $50.50.



Hurco Companies (NASDAQ:HURC) last released its quarterly earnings results on Friday, September 7th. The scientific and technical instruments company reported $0.95 EPS for the quarter. The company had revenue of $78.75 million for the quarter. Hurco Companies had a return on equity of 10.83% and a net margin of 6.78%.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 11th. Shareholders of record on Thursday, September 27th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Wednesday, September 26th.

In other Hurco Companies news, CEO Michael Doar sold 4,922 shares of Hurco Companies stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $44.58, for a total transaction of $219,422.76. Following the transaction, the chief executive officer now owns 95,733 shares of the company’s stock, valued at $4,267,777.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HURC. Bank of America Corp DE increased its holdings in shares of Hurco Companies by 30.6% in the second quarter. Bank of America Corp DE now owns 5,913 shares of the scientific and technical instruments company’s stock valued at $264,000 after purchasing an additional 1,384 shares during the period. Northern Trust Corp increased its holdings in shares of Hurco Companies by 2.4% in the first quarter. Northern Trust Corp now owns 77,318 shares of the scientific and technical instruments company’s stock valued at $3,548,000 after purchasing an additional 1,778 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Hurco Companies by 17.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 13,300 shares of the scientific and technical instruments company’s stock valued at $611,000 after purchasing an additional 2,000 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Hurco Companies by 240.2% in the first quarter. Russell Investments Group Ltd. now owns 2,943 shares of the scientific and technical instruments company’s stock valued at $135,000 after purchasing an additional 2,078 shares during the period. Finally, Strs Ohio increased its holdings in shares of Hurco Companies by 13.9% in the second quarter. Strs Ohio now owns 17,200 shares of the scientific and technical instruments company’s stock valued at $769,000 after purchasing an additional 2,100 shares during the period. 81.63% of the stock is currently owned by institutional investors.

About Hurco Companies

Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. The company offers general purpose computerized machine tools, such as vertical machining centers and turning centers. It also provides computer numerical control (CNC) machine tools, knee mills, vertical machining centers, tool room bed mills, combination lathes, horizontal machining centers, slant-bed lathes, and bridge mills; and double column vertical machining centers, and high-speed drill and tap machines.

Further Reading: What are retained earnings?

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