Analysts Set Cray Inc. (CRAY) Target Price at $30.50

Shares of Cray Inc. (NASDAQ:CRAY) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.50.

CRAY has been the topic of a number of research reports. BidaskClub raised Cray from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. ValuEngine raised Cray from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Wells Fargo & Co lifted their price target on Cray from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research cut Cray from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd.

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC increased its stake in shares of Cray by 173.4% during the first quarter. Barclays PLC now owns 17,602 shares of the technology company’s stock valued at $365,000 after buying an additional 11,163 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Cray by 867.9% during the first quarter. The Manufacturers Life Insurance Company now owns 299,695 shares of the technology company’s stock valued at $6,204,000 after purchasing an additional 268,732 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Cray by 2.5% during the first quarter. Principal Financial Group Inc. now owns 310,242 shares of the technology company’s stock valued at $6,422,000 after purchasing an additional 7,643 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cray by 13.5% during the first quarter. JPMorgan Chase & Co. now owns 104,621 shares of the technology company’s stock valued at $2,165,000 after purchasing an additional 12,419 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in shares of Cray by 16.6% during the first quarter. Levin Capital Strategies L.P. now owns 17,582 shares of the technology company’s stock valued at $364,000 after purchasing an additional 2,500 shares in the last quarter. 99.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of CRAY traded down $0.05 during trading hours on Tuesday, reaching $21.45. 285,623 shares of the company’s stock traded hands, compared to its average volume of 317,016. The company has a market cap of $877.78 million, a PE ratio of -21.24 and a beta of 1.48. Cray has a 12 month low of $17.60 and a 12 month high of $28.60.

Cray (NASDAQ:CRAY) last issued its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.13. The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $108.68 million. Cray had a negative return on equity of 8.18% and a negative net margin of 32.22%. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) EPS. equities research analysts expect that Cray will post -1.02 EPS for the current year.

Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

Featured Story: How to Invest in Growth Stocks

Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit