Hollysys Automation Technologies (NASDAQ:HOLI) Downgraded by Zacks Investment Research

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Hollysys Automation Technologies (NASDAQ:HOLI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “HLS SYSTEMS INTERNATIONAL has become one of the leading automation systems providers in the People’s Republic of China, developing a number of core technologies and completing numerous projects utilizing a wide array of automation products. With its philosophy of sincere concern for customers and its technical innovation capabilities, HLS Systems International specializes in the research, development, production, sale and distribution of industrial automation for digital railway signals and information systems, e-government, motor drive transmissions and safety controls for nuclear power reactors. “

Several other research firms have also recently weighed in on HOLI. ValuEngine upgraded Hollysys Automation Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. TheStreet cut Hollysys Automation Technologies from a “b-” rating to a “c” rating in a research report on Monday, August 5th. Finally, BidaskClub cut Hollysys Automation Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.00.

HOLI stock opened at $14.21 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.25 and a quick ratio of 3.12. The stock has a market capitalization of $876.77 million, a price-to-earnings ratio of 6.29 and a beta of 1.41. The business’s fifty day moving average price is $15.10 and its two-hundred day moving average price is $17.57. Hollysys Automation Technologies has a fifty-two week low of $13.59 and a fifty-two week high of $24.10.

Hollysys Automation Technologies (NASDAQ:HOLI) last posted its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.14). The firm had revenue of $156.99 million for the quarter, compared to the consensus estimate of $162.75 million. Hollysys Automation Technologies had a return on equity of 15.13% and a net margin of 21.96%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Research analysts expect that Hollysys Automation Technologies will post 2.4 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Probity Advisors Inc. grew its holdings in shares of Hollysys Automation Technologies by 2.2% during the 2nd quarter. Probity Advisors Inc. now owns 31,068 shares of the industrial products company’s stock worth $590,000 after purchasing an additional 656 shares in the last quarter. CWM LLC grew its holdings in shares of Hollysys Automation Technologies by 167.0% during the 2nd quarter. CWM LLC now owns 1,335 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Hollysys Automation Technologies by 131.3% during the 2nd quarter. Royal Bank of Canada now owns 1,735 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 985 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Hollysys Automation Technologies by 2.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 46,228 shares of the industrial products company’s stock worth $878,000 after purchasing an additional 1,001 shares in the last quarter. Finally, BB&T Securities LLC grew its holdings in shares of Hollysys Automation Technologies by 1.7% during the 2nd quarter. BB&T Securities LLC now owns 61,481 shares of the industrial products company’s stock worth $1,168,000 after purchasing an additional 1,030 shares in the last quarter. 75.23% of the stock is currently owned by institutional investors.

About Hollysys Automation Technologies

Hollysys Automation Technologies Ltd. provides automation and control technologies and products in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS-NMS DCS, a proprietary nuclear power non-safety automation and control system.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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