Hurco Companies (NASDAQ:HURC) Issues Quarterly Earnings Results

Hurco Companies (NASDAQ:HURC) issued its quarterly earnings results on Friday. The scientific and technical instruments company reported ($0.47) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $45.47 million during the quarter. Hurco Companies had a negative return on equity of 6.67% and a negative net margin of 7.24%.

Hurco Companies Stock Performance

NASDAQ HURC opened at $17.19 on Friday. The firm has a market capitalization of $110.05 million, a price-to-earnings ratio of -7.35 and a beta of 0.65. Hurco Companies has a one year low of $13.19 and a one year high of $23.45. The company’s 50 day moving average price is $15.94 and its 200 day moving average price is $17.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Hurco Companies

An institutional investor recently raised its position in Hurco Companies stock. Ameriprise Financial Inc. increased its holdings in Hurco Companies, Inc. (NASDAQ:HURC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 321,811 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,733 shares during the quarter. Ameriprise Financial Inc. owned approximately 4.94% of Hurco Companies worth $6,082,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 74.36% of the company’s stock.

About Hurco Companies

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.