Hurco Companies (NASDAQ:HURC) Announces Earnings Results

Hurco Companies (NASDAQ:HURC) issued its quarterly earnings results on Friday. The scientific and technical instruments company reported ($0.37) earnings per share for the quarter, Zacks reports. The company had revenue of $47.62 million during the quarter. Hurco Companies had a negative net margin of 8.15% and a negative return on equity of 7.13%.

Hurco Companies Price Performance

HURC opened at $21.13 on Friday. The company’s 50 day simple moving average is $16.45 and its two-hundred day simple moving average is $16.32. Hurco Companies has a 1-year low of $13.19 and a 1-year high of $21.91. The firm has a market capitalization of $136.29 million, a price-to-earnings ratio of -10.78 and a beta of 0.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hurco Companies stock. Ameriprise Financial Inc. grew its holdings in Hurco Companies, Inc. (NASDAQ:HURC) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,811 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,733 shares during the quarter. Ameriprise Financial Inc. owned about 4.94% of Hurco Companies worth $6,082,000 as of its most recent SEC filing. 74.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HURC has been the topic of a number of research reports. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.