Hurco Companies (NASDAQ:HURC) Announces Quarterly Earnings Results

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

Hurco Companies Trading Up 23.4%

Shares of HURC opened at $21.13 on Friday. The company’s 50 day simple moving average is $16.45 and its 200-day simple moving average is $16.32. Hurco Companies has a 12-month low of $13.19 and a 12-month high of $21.91. The firm has a market cap of $136.29 million, a PE ratio of -9.56 and a beta of 0.75.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hurco Companies stock. Ameriprise Financial Inc. raised its stake in Hurco Companies, Inc. (NASDAQ:HURC) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 4.94% of Hurco Companies worth $6,082,000 at the end of the most recent reporting period. Institutional investors own 74.36% of the company’s stock.

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.