Fanuc (OTCMKTS:FANUY) Upgraded to Buy at Zacks Investment Research

Fanuc (OTCMKTS:FANUY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, reports. The brokerage currently has a $27.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.07% from the company’s previous close.

According to Zacks, “Fanuc Ltd. is a manufacturer of factory automation and robots. It is engaged in the development, manufacture, sale and maintenance of robots and factory automation products primarily in Japan, US, Europe and other Asian countries. The Company’s technology is applied in the automation of machine tools. Its products lineup includes: computer numerical control series; servo motors; carbon dioxide laser oscillators; industrial lasers; robots and robot machines; machine for milling and boring, precision molding machines, wire-cut electric discharge machine and nano control technology based machines that have their applications in optical electronics, medical, semiconductor and biotechnology fields. Fanuc Ltd. is headquartered in Yamanashi Prefecture, Japan. “

FANUY traded up $0.17 during trading on Tuesday, reaching $24.31. 992,744 shares of the company’s stock were exchanged, compared to its average volume of 218,728. The company has a market capitalization of $49.09 billion, a P/E ratio of 52.85, a PEG ratio of 1.31 and a beta of 1.08. The business has a 50 day moving average price of $22.94 and a 200 day moving average price of $23.71. Fanuc has a fifty-two week low of $18.49 and a fifty-two week high of $28.50.

About Fanuc

FANUC Corp. engages in the development, manufacture, sale, and maintenance of computer numerical control (CNC) systems, lasers, robot systems, robomachines, roboshot, robocut and nano robots. It operates through the following divisions: Factory Automation (FA), Robot, and Robomachine. The FA division manufactures CNC systems, CNC servo motors, and lasers.

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