Jason Industries Inc. (JASN) Upgraded to Hold at Zacks Investment Research
Jason Industries Inc. (NASDAQ:JASN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Jason Industries, Inc. engages in the manufacturing of Finishing, Seating, Components, and Automotive Acoustics. It produces finishing products, including industrial brushes, buffing wheels, and buffing compounds; supplies seating solutions to equipment manufacturers in the motorcycle, lawn and turf care, industrial, agricultural, construction, and power sports end markets, as well as original equipment manufacturer seating for the heavyweight motorcycles; manufactures engineered non-woven, fiber-based acoustical products; manufactures stamped, formed, expanded, and perforated metal components and subassemblies. Jason Industries, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, Stifel Nicolaus lowered their price target on shares of Jason Industries from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 5th.
Shares of Jason Industries (NASDAQ:JASN) opened at 2.13 on Wednesday. Jason Industries has a 1-year low of $1.87 and a 1-year high of $5.10. The company has a 50 day moving average of $2.19 and a 200 day moving average of $3.31. The company’s market cap is $47.70 million.
Jason Industries (NASDAQ:JASN) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.07 by $0.14. Jason Industries had a negative net margin of 10.86% and a negative return on equity of 2.17%. Equities analysts expect that Jason Industries will post ($0.11) earnings per share for the current fiscal year.
In other Jason Industries news, major shareholder Alex Mitchell sold 200,686 shares of Jason Industries stock in a transaction on Monday, August 8th. The shares were sold at an average price of $2.84, for a total value of $569,948.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Wynnefield Partners Small Cap purchased 30,241 shares of the stock in a transaction on Tuesday, August 30th. The stock was acquired at an average price of $1.90 per share, for a total transaction of $57,457.90. The disclosure for this purchase can be found here. 23.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heartland Advisors Inc. raised its position in Jason Industries by 20.2% in the second quarter. Heartland Advisors Inc. now owns 1,201,900 shares of the company’s stock valued at $4,339,000 after buying an additional 201,900 shares in the last quarter. Credit Agricole S A raised its position in Jason Industries by 1.6% in the first quarter. Credit Agricole S A now owns 137,844 shares of the company’s stock valued at $482,000 after buying an additional 2,126 shares in the last quarter. Lorber David A purchased a new position in Jason Industries during the first quarter valued at $129,000. Finally, Gamco Investors INC. ET AL raised its position in Jason Industries by 0.6% in the second quarter. Gamco Investors INC. ET AL now owns 35,500 shares of the company’s stock valued at $128,000 after buying an additional 200 shares in the last quarter. Institutional investors own 58.60% 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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