Hollysys Automation Technologies (HOLI) Cut to “Hold” at Zacks Investment Research

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 Friday.

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 analysts also recently commented on the stock. BidaskClub downgraded shares of Hollysys Automation Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 30th. JPMorgan Chase & Co. raised shares of Hollysys Automation Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 15th. Citigroup raised shares of Hollysys Automation Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 15th. Finally, ValuEngine downgraded shares of Hollysys Automation Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.58.

Hollysys Automation Technologies opened at $24.40 on Friday, MarketBeat reports. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 21.03 and a beta of 1.62. Hollysys Automation Technologies has a one year low of $15.84 and a one year high of $28.35. The company has a current ratio of 2.96, a quick ratio of 2.79 and a debt-to-equity ratio of 0.03.

Hollysys Automation Technologies (NASDAQ:HOLI) last posted its quarterly earnings results on Monday, May 14th. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The business had revenue of $120.62 million for the quarter, compared to analysts’ expectations of $119.06 million. Hollysys Automation Technologies had a return on equity of 13.10% and a net margin of 19.02%. The company’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. analysts anticipate that Hollysys Automation Technologies will post 1.85 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Navellier & Associates Inc bought a new position in shares of Hollysys Automation Technologies in the first quarter worth approximately $1,745,000. Legal & General Group Plc grew its holdings in shares of Hollysys Automation Technologies by 12,030.3% in the first quarter. Legal & General Group Plc now owns 891,093 shares of the industrial products company’s stock worth $22,027,000 after purchasing an additional 883,747 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Hollysys Automation Technologies in the first quarter worth approximately $242,000. Cubist Systematic Strategies LLC grew its holdings in shares of Hollysys Automation Technologies by 17.9% in the first quarter. Cubist Systematic Strategies LLC now owns 28,627 shares of the industrial products company’s stock worth $708,000 after purchasing an additional 4,351 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Hollysys Automation Technologies by 10.6% in the first quarter. Guggenheim Capital LLC now owns 167,561 shares of the industrial products company’s stock worth $4,142,000 after purchasing an additional 16,012 shares during the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.

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.

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