Pointer Telocation (NASDAQ:PNTR) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Pointer Telocation (NASDAQ:PNTR) from a hold rating to a strong sell rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Pointer Telocation Ltd provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. “

Other research analysts also recently issued reports about the company. B. Riley restated a neutral rating and set a $15.00 target price (down from $20.50) on shares of Pointer Telocation in a research note on Wednesday, May 15th. HC Wainwright restated a hold rating on shares of Pointer Telocation in a research note on Friday, May 24th. Finally, ValuEngine downgraded Pointer Telocation from a buy rating to a hold rating in a research note on Thursday, August 1st.

Shares of NASDAQ:PNTR opened at $14.20 on Thursday. Pointer Telocation has a 12-month low of $11.11 and a 12-month high of $16.16. The business’s fifty day simple moving average is $15.04 and its 200-day simple moving average is $14.85. The company has a market capitalization of $115.56 million, a PE ratio of 17.12 and a beta of 0.51. The company has a current ratio of 1.84, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03.

Pointer Telocation (NASDAQ:PNTR) last announced its quarterly earnings results on Thursday, August 15th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. Pointer Telocation had a return on equity of 10.17% and a net margin of 6.39%. The business had revenue of $21.44 million for the quarter, compared to the consensus estimate of $20.85 million. Research analysts predict that Pointer Telocation will post 0.9 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Chicago Capital Management LLC increased its stake in shares of Pointer Telocation by 21.8% in the 2nd quarter. Chicago Capital Management LLC now owns 270,304 shares of the communications equipment provider’s stock valued at $4,122,000 after purchasing an additional 48,458 shares in the last quarter. Renaissance Technologies LLC increased its stake in Pointer Telocation by 4.8% during the 2nd quarter. Renaissance Technologies LLC now owns 250,241 shares of the communications equipment provider’s stock worth $3,816,000 after buying an additional 11,541 shares in the last quarter. Delek Group Ltd. increased its stake in Pointer Telocation by 18.9% during the 1st quarter. Delek Group Ltd. now owns 210,750 shares of the communications equipment provider’s stock worth $3,280,000 after buying an additional 33,517 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in Pointer Telocation by 5.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 129,826 shares of the communications equipment provider’s stock worth $1,980,000 after buying an additional 6,578 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Pointer Telocation by 11.5% in the first quarter. Acadian Asset Management LLC now owns 94,244 shares of the communications equipment provider’s stock valued at $1,474,000 after purchasing an additional 9,694 shares in the last quarter. Hedge funds and other institutional investors own 26.32% of the company’s stock.

About Pointer Telocation

Pointer Telocation Ltd. provides mobile resource management (MRM) products and services for the automotive and insurance industries, and mobile assets management markets worldwide. It operates through MRM and Cellocator sgments. The MRM segment offers asset management, fleet management, stolen vehicle retrieval (SVR), and connected car services.

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