Jason Industries Inc (JASN) Receives Average Recommendation of “Strong Buy” from Analysts
Jason Industries Inc (NASDAQ:JASN) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price objective of $4.50 for the company and are forecasting that the company will post ($0.05) EPS for the current quarter, according to Zacks. Zacks has also given Jason Industries an industry rank of 175 out of 255 based on the ratings given to related companies.
Several brokerages have recently commented on JASN. ValuEngine raised Jason Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research raised Jason Industries from a “hold” rating to a “strong-buy” rating and set a $2.75 target price for the company in a report on Thursday, August 9th.
Jason Industries (NASDAQ:JASN) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Jason Industries had a negative return on equity of 1.05% and a negative net margin of 0.10%. The business had revenue of $168.42 million during the quarter, compared to analyst estimates of $161.40 million. analysts anticipate that Jason Industries will post -0.13 earnings per share for the current fiscal year.
In related news, major shareholder Wynnefield Partners Small Cap bought 16,900 shares of Jason Industries stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $2.33 per share, with a total value of $39,377.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have bought 42,651 shares of company stock valued at $103,692. 19.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Jason Industries during the fourth quarter valued at $126,000. Deutsche Bank AG acquired a new position in Jason Industries during the fourth quarter valued at $355,000. Spark Investment Management LLC raised its position in Jason Industries by 34.5% during the first quarter. Spark Investment Management LLC now owns 120,900 shares of the technology company’s stock valued at $375,000 after buying an additional 31,000 shares during the period. Finally, Wynnefield Capital Inc. raised its position in Jason Industries by 1.1% during the first quarter. Wynnefield Capital Inc. now owns 4,680,816 shares of the technology company’s stock valued at $14,557,000 after buying an additional 50,000 shares during the period. 35.97% of the stock is owned by institutional investors and hedge funds.
Jason Industries Company Profile
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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