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 reduced their target price on Jason Industries from $8.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 5th.

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Shares of Jason Industries (NASDAQ:JASN) traded up 6.91% during trading on Wednesday, hitting $2.32. 291,610 shares of the stock traded hands. Jason Industries has a 52 week low of $1.87 and a 52 week high of $5.10. The company has a 50-day moving average of $2.19 and a 200-day moving average of $3.29. The firm’s market cap is $51.96 million.

Jason Industries (NASDAQ:JASN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.14. Jason Industries had a negative return on equity of 2.17% and a negative net margin of 10.86%. On average, analysts forecast that Jason Industries will post ($0.11) EPS for the current fiscal year.

In other Jason Industries news, Chairman Jeffry N. Quinn purchased 100,700 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $2.17 per share, with a total value of $218,519.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Wynnefield Partners Small Cap purchased 15,330 shares of the company’s stock in a transaction on Saturday, December 31st. The stock was acquired at an average cost of $3.42 per share, for a total transaction of $52,428.60. The disclosure for this purchase can be found here. 23.10% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Heartland Advisors Inc. raised its position in shares of 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 during the period. Gamco Investors INC. ET AL raised its position in shares of Jason Industries by 0.6% in the second quarter. Gamco Investors INC. ET AL now owns 35,500 shares of the company’s stock worth $128,000 after buying an additional 200 shares during the last quarter. Lorber David A purchased a new position in shares of Jason Industries during the first quarter worth $129,000. Finally, Credit Agricole S A raised its position in shares of Jason Industries by 1.6% in the first quarter. Credit Agricole S A now owns 137,844 shares of the company’s stock worth $482,000 after buying an additional 2,126 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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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