Perceptron, Inc. (NASDAQ:PRCP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $9.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.92% from the company’s previous close.

According to Zacks, “Perceptron, Inc. designs, manufactures and markets information based process measurement and guidance solutions which help customers improve performance. Perceptron’s product offerings are designed to improve quality,increase productivity and decrease costs in the automotive and forest products workplace. Perceptron’s design philosophy is to create systems which incorporate sophisticated proprietary software and hardware to minimize the need for customer application engineering. “

Shares of Perceptron (NASDAQ:PRCP) opened at 7.97 on Thursday. The company’s market capitalization is $75.24 million. Perceptron has a 1-year low of $5.59 and a 1-year high of $8.95. The company’s 50-day moving average price is $7.51 and its 200-day moving average price is $7.71.

Perceptron (NASDAQ:PRCP) last posted its quarterly earnings data on Monday, August 28th. The scientific and technical instruments company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Perceptron had a positive return on equity of 1.00% and a negative net margin of 0.22%. The company had revenue of $22.35 million during the quarter, compared to analyst estimates of $19.80 million. On average, equities analysts expect that Perceptron will post $0.41 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. lifted its stake in Perceptron by 11.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 453,000 shares of the scientific and technical instruments company’s stock valued at $3,298,000 after buying an additional 47,200 shares during the period. Goldman Sachs Group Inc. lifted its stake in Perceptron by 21.6% in the second quarter. Goldman Sachs Group Inc. now owns 15,505 shares of the scientific and technical instruments company’s stock valued at $113,000 after buying an additional 2,752 shares during the period. Dimensional Fund Advisors LP lifted its stake in Perceptron by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 684,901 shares of the scientific and technical instruments company’s stock valued at $4,986,000 after buying an additional 29,122 shares during the period. Northern Trust Corp lifted its stake in Perceptron by 3.3% in the second quarter. Northern Trust Corp now owns 31,207 shares of the scientific and technical instruments company’s stock valued at $227,000 after buying an additional 983 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Perceptron by 15.1% in the second quarter. New York State Common Retirement Fund now owns 321,669 shares of the scientific and technical instruments company’s stock valued at $2,342,000 after buying an additional 42,281 shares during the period. 63.05% of the stock is currently owned by hedge funds and other institutional investors.

About Perceptron

Perceptron, Inc develops, produces and sells a range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and three-dimensional (3D) scanning. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines (CMMs), laser scanning and advanced analysis software.

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