PowerFleet, Inc. (NASDAQ:AIOT) Given Consensus Rating of “Hold” by Brokerages

Shares of PowerFleet, Inc. (NASDAQ:AIOT) have been given a consensus recommendation of “Hold” by the six research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.40.

A number of equities research analysts have commented on AIOT shares. Wall Street Zen cut PowerFleet from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Northland Securities set a $7.00 price objective on shares of PowerFleet in a report on Tuesday, August 11th. Zacks Research lowered shares of PowerFleet from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Barrington Research set a $10.00 target price on shares of PowerFleet in a research note on Monday, August 10th. Finally, UBS Group set a $7.00 target price on shares of PowerFleet in a research report on Tuesday, June 16th.

PowerFleet Price Performance

Shares of AIOT opened at $3.02 on Monday. The company has a 50 day moving average of $3.69 and a two-hundred day moving average of $3.53. The company has a quick ratio of 0.96, a current ratio of 1.10 and a debt-to-equity ratio of 0.48. PowerFleet has a twelve month low of $2.78 and a twelve month high of $5.88. The company has a market cap of $405.37 million, a price-to-earnings ratio of -21.57 and a beta of 1.39.

PowerFleet (NASDAQ:AIOT) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $110.79 million during the quarter, compared to analyst estimates of $115.54 million. PowerFleet had a positive return on equity of 0.48% and a negative net margin of 4.16%. As a group, analysts predict that PowerFleet will post 0.1 earnings per share for the current fiscal year.

PowerFleet declared that its board has initiated a share buyback program on Tuesday, June 30th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On PowerFleet

A number of large investors have recently bought and sold shares of AIOT. BlackRock Inc. acquired a new position in PowerFleet during the second quarter valued at $39,489,000. Private Capital Management LLC increased its holdings in shares of PowerFleet by 3.1% in the fourth quarter. Private Capital Management LLC now owns 7,584,853 shares of the company’s stock valued at $40,351,000 after purchasing an additional 230,780 shares during the last quarter. Private Management Group Inc. increased its position in PowerFleet by 4.0% during the second quarter. Private Management Group Inc. now owns 5,731,137 shares of the company’s stock worth $21,950,000 after purchasing an additional 218,615 shares during the last quarter. Royce & Associates LP lifted its stake in shares of PowerFleet by 3.7% in the 4th quarter. Royce & Associates LP now owns 4,471,131 shares of the company’s stock valued at $23,786,000 after purchasing an additional 159,256 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in PowerFleet by 20.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,129,670 shares of the company’s stock worth $12,718,000 after buying an additional 698,112 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

PowerFleet Company Profile

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.