Planar Systems Downgraded by B. Riley to Neutral (PLNR)
Planar Systems (NASDAQ:PLNR) was downgraded by equities research analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $4.30 price target on the stock, up from their previous price target of $3.10. B. Riley’s target price indicates a potential upside of 0.23% from the company’s current price. The analysts noted that the move was a valuation call.
In other Planar Systems news, CEO Gerald K. Perkel sold 85,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $3.91, for a total transaction of $332,350.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Separately, analysts at Zacks upgraded shares of Planar Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $4.00 price target on the stock.
Shares of Planar Systems (NASDAQ:PLNR) opened at 4.31 on Thursday. Planar Systems has a 52-week low of $1.77 and a 52-week high of $4.39. The stock has a 50-day moving average of $3.06 and a 200-day moving average of $2.42. The company has a market cap of $94.5 million and a P/E ratio of 67.34.
Planar Systems (NASDAQ:PLNR) last released its earnings data on Thursday, July 31st. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.03. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $42.80 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts expect that Planar Systems will post $0.21 EPS for the current fiscal year.
Planar Systems, Inc (NASDAQ:PLNR) is engaged in developing, manufacturing and marketing electronic display products and systems.
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