Hardinge Inc. (HDNG) Stock Rating Upgraded by ValuEngine
Hardinge Inc. (NASDAQ:HDNG) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Separately, TheStreet raised Hardinge from a “d+” rating to a “b” rating in a report on Monday, August 21st.
Hardinge (NASDAQ HDNG) traded down 0.73% on Friday, reaching $13.59. The company had a trading volume of 11,776 shares. The stock has a market capitalization of $175.98 million, a P/E ratio of 62.34 and a beta of 0.93. The stock’s 50 day moving average is $13.25 and its 200-day moving average is $11.84. Hardinge has a 1-year low of $8.24 and a 1-year high of $14.85.
Hardinge (NASDAQ:HDNG) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.12. The business had revenue of $78.20 million for the quarter. Hardinge had a return on equity of 4.61% and a net margin of 0.94%. On average, equities analysts predict that Hardinge will post $0.11 EPS for the current fiscal year.
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In related news, insider Charles P. Dougherty bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $63,400.00. Following the completion of the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $63,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Fund Lp Privet bought 86,773 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $14.39 per share, with a total value of $1,248,663.47. Following the completion of the acquisition, the insider now owns 1,632 shares of the company’s stock, valued at approximately $23,484.48. The disclosure for this purchase can be found here. Insiders bought 183,546 shares of company stock valued at $2,627,976 over the last ninety days. Insiders own 11.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Royce & Associates LP increased its stake in shares of Hardinge by 3.9% in the second quarter. Royce & Associates LP now owns 1,114,105 shares of the industrial products company’s stock worth $13,837,000 after buying an additional 41,886 shares during the period. Dimensional Fund Advisors LP increased its stake in Hardinge by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,087,045 shares of the industrial products company’s stock valued at $13,501,000 after buying an additional 17,470 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in Hardinge by 48.7% in the second quarter. John G Ullman & Associates Inc. now owns 182,612 shares of the industrial products company’s stock valued at $2,268,000 after buying an additional 59,802 shares during the last quarter. State Street Corp increased its stake in Hardinge by 10.9% in the second quarter. State Street Corp now owns 156,626 shares of the industrial products company’s stock valued at $1,945,000 after buying an additional 15,368 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Hardinge by 2.6% in the second quarter. Northern Trust Corp now owns 140,526 shares of the industrial products company’s stock valued at $1,746,000 after buying an additional 3,575 shares during the last quarter. 71.38% of the stock is owned by institutional investors.
Hardinge Inc (Hardinge) is a designer, manufacturer and distributor of machine tools, specializing in precision computer numerically controlled metalcutting machines and workholding technology solutions. The Company supplies high precision computer controlled metalcutting turning machines, grinding machines, machining centers and repair parts related to those machines.
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