Pointer Telocation (NASDAQ:PNTR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Pointer Telocation (NASDAQ:PNTR) from a buy rating to a hold rating in a research note released on Wednesday 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. “

Several other research firms have also recently issued reports on PNTR. HC Wainwright set a $3.00 target price on shares of McEwen Mining and gave the stock a buy rating in a research report on Friday, May 24th. B. Riley reissued a neutral rating and issued a $15.00 target price (down from $20.50) on shares of Pointer Telocation in a research report on Wednesday, May 15th. Finally, ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $15.91.

Shares of NASDAQ PNTR opened at $15.05 on Wednesday. The stock has a market capitalization of $122.39 million, a P/E ratio of 16.91 and a beta of 0.53. Pointer Telocation has a 12 month low of $10.25 and a 12 month high of $16.16. The company has a current ratio of 1.87, a quick ratio of 1.46 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $14.92.

Pointer Telocation (NASDAQ:PNTR) last issued its quarterly earnings results on Thursday, May 23rd. The communications equipment provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $18.26 million for the quarter, compared to analysts’ expectations of $18.47 million. Pointer Telocation had a return on equity of 11.29% and a net margin of 7.66%. As a group, analysts expect that Pointer Telocation will post 1.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in shares of Pointer Telocation in the first quarter worth approximately $28,000. BlackRock Inc. acquired a new stake in shares of Pointer Telocation in the fourth quarter worth approximately $251,000. Menora Mivtachim Holdings LTD. boosted its position in shares of Pointer Telocation by 2.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 30,277 shares of the communications equipment provider’s stock worth $474,000 after acquiring an additional 842 shares during the last quarter. Meitav Dash Investments Ltd. boosted its position in shares of Pointer Telocation by 33.9% in the first quarter. Meitav Dash Investments Ltd. now owns 31,670 shares of the communications equipment provider’s stock worth $487,000 after acquiring an additional 8,022 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Pointer Telocation by 40.5% in the first quarter. Boston Partners now owns 53,615 shares of the communications equipment provider’s stock worth $839,000 after acquiring an additional 15,453 shares during the last quarter. 27.30% of the stock is currently owned by institutional investors and hedge funds.

Pointer Telocation Company Profile

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.

Further Reading: Oversold

Get a free copy of the Zacks research report on Pointer Telocation (PNTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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