Zacks: Jason Industries Inc (JASN) Given Consensus Rating of “Strong Buy” by Analysts

Jason Industries Inc (NASDAQ:JASN) has received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $3.50 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given Jason Industries an industry rank of 87 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Jason Industries from a “sell” rating to a “hold” rating in a report on Wednesday.

JASN traded up $0.02 during trading on Friday, hitting $1.45. 38,099 shares of the company’s stock were exchanged, compared to its average volume of 95,397. Jason Industries has a fifty-two week low of $1.23 and a fifty-two week high of $3.70. The company has a market cap of $40.04 million, a price-to-earnings ratio of -2.69 and a beta of 1.17.

Jason Industries (NASDAQ:JASN) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.06). The business had revenue of $141.98 million for the quarter, compared to analysts’ expectations of $153.40 million. On average, analysts forecast that Jason Industries will post -0.13 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in JASN. Wynnefield Capital Inc. raised its holdings in shares of Jason Industries by 3.7% in the fourth quarter. Wynnefield Capital Inc. now owns 5,133,296 shares of the technology company’s stock valued at $7,033,000 after purchasing an additional 182,977 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Jason Industries by 19.3% in the third quarter. Renaissance Technologies LLC now owns 1,036,916 shares of the technology company’s stock valued at $3,494,000 after purchasing an additional 167,400 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Jason Industries in the third quarter valued at about $193,000. Skylands Capital LLC raised its holdings in shares of Jason Industries by 9.4% in the first quarter. Skylands Capital LLC now owns 590,802 shares of the technology company’s stock valued at $827,000 after purchasing an additional 50,802 shares during the last quarter. Finally, Alambic Investment Management L.P. purchased a new stake in shares of Jason Industries in the fourth quarter valued at about $44,000. Institutional investors own 34.74% of the company’s stock.

About Jason Industries

Jason Industries is the parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Indiana and Burgwald, Germany) and Sealeze (Richmond, Va.).

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