Accuray Inc. (NASDAQ:ARAY) Receives Average Rating of “Hold” from Brokerages
Accuray Inc. (NASDAQ:ARAY) has earned an average recommendation of “Hold” from the seven analysts that are covering the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.13.
A number of brokerages have recently commented on ARAY. Morgan Stanley set a $8.00 price objective on Accuray and gave the company a “hold” rating in a report on Thursday, August 18th. Cowen and Company began coverage on Accuray in a report on Tuesday, September 13th. They set an “outperform” rating and a $9.00 price objective on the stock.
Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Accuray during the second quarter worth approximately $104,000. Trexquant Investment LP purchased a new stake in shares of Accuray during the second quarter worth approximately $109,000. Advisory Services Network LLC increased its stake in shares of Accuray by 19.0% in the second quarter. Advisory Services Network LLC now owns 21,900 shares of the company’s stock worth $114,000 after buying an additional 3,500 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Accuray during the second quarter worth approximately $116,000. Finally, BlackRock Group LTD increased its stake in shares of Accuray by 151.9% in the first quarter. BlackRock Group LTD now owns 36,736 shares of the company’s stock worth $212,000 after buying an additional 22,155 shares in the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.
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Shares of Accuray (NASDAQ:ARAY) traded up 1.43% on Tuesday, reaching $5.67. The company had a trading volume of 223,136 shares. The company’s 50-day moving average is $5.43 and its 200 day moving average is $5.43. The firm’s market capitalization is $462.52 million. Accuray has a 12 month low of $4.75 and a 12 month high of $7.54.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Wednesday, August 17th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.02. The company had revenue of $95 million for the quarter, compared to analyst estimates of $98.97 million. Accuray had a negative net margin of 5.55% and a negative return on equity of 35.82%. The business’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. Equities analysts forecast that Accuray will post ($0.16) earnings per share for the current year.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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