Hollysys Automation Technologies (NASDAQ:HOLI) Downgraded by Zacks Investment Research

Hollysys Automation Technologies (NASDAQ:HOLI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “HLS SYSTEMS INTERNATIONAL has become one of the leading automation systems providers in the People’s Republic of China, developing a number of core technologies and completing numerous projects utilizing a wide array of automation products. With its philosophy of sincere concern for customers and its technical innovation capabilities, HLS Systems International specializes in the research, development, production, sale and distribution of industrial automation for digital railway signals and information systems, e-government, motor drive transmissions and safety controls for nuclear power reactors. “

Several other equities analysts have also issued reports on HOLI. BidaskClub lowered Hollysys Automation Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, October 4th. ValuEngine upgraded Hollysys Automation Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, TheStreet lowered Hollysys Automation Technologies from a “b-” rating to a “c” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.

Shares of HOLI opened at $14.21 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.12 and a current ratio of 3.25. The stock has a 50 day simple moving average of $15.10 and a 200 day simple moving average of $17.57. Hollysys Automation Technologies has a 52-week low of $13.59 and a 52-week high of $24.10. The firm has a market capitalization of $876.77 million, a PE ratio of 6.29 and a beta of 1.41.

Hollysys Automation Technologies (NASDAQ:HOLI) last issued its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.14). Hollysys Automation Technologies had a net margin of 21.96% and a return on equity of 15.13%. The business had revenue of $156.99 million during the quarter, compared to analyst estimates of $162.75 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Hollysys Automation Technologies’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts predict that Hollysys Automation Technologies will post 2.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of HOLI. Harvest Fund Management Co. Ltd acquired a new position in Hollysys Automation Technologies during the 2nd quarter worth approximately $20,566,000. Prudential PLC boosted its position in Hollysys Automation Technologies by 7.6% during the 2nd quarter. Prudential PLC now owns 9,348,282 shares of the industrial products company’s stock worth $177,617,000 after acquiring an additional 656,729 shares during the last quarter. Wells Fargo & Company MN boosted its position in Hollysys Automation Technologies by 34.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,215,249 shares of the industrial products company’s stock worth $42,090,000 after acquiring an additional 564,070 shares during the last quarter. Blackcrane Capital LLC acquired a new position in Hollysys Automation Technologies during the 2nd quarter worth approximately $6,246,000. Finally, Morgan Stanley boosted its position in Hollysys Automation Technologies by 1,365.3% during the 2nd quarter. Morgan Stanley now owns 222,761 shares of the industrial products company’s stock worth $4,232,000 after acquiring an additional 207,559 shares during the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.

Hollysys Automation Technologies Company Profile

Hollysys Automation Technologies Ltd. provides automation and control technologies and products in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS-NMS DCS, a proprietary nuclear power non-safety automation and control system.

Recommended Story: CBOE Russell 2000® Volatility Index

Get a free copy of the Zacks research report on Hollysys Automation Technologies (HOLI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hollysys Automation Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hollysys Automation Technologies and related companies with MarketBeat.com's FREE daily email newsletter.