Hollysys Automation Technologies Ltd. (HOLI) Downgraded to “Hold” at Zacks Investment Research
Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “HLS SYSTEMS INTERNATIONAL has become one of the leading automation systems providers in the People’s Republic of China, developing a number of core technologies and completing numerous projects utilizing a wide array of automation products. With its philosophy of sincere concern for customers and its technical innovation capabilities, HLS Systems International specializes in the research, development, production, sale and distribution of industrial automation for digital railway signals and information systems, e-government, motor drive transmissions and safety controls for nuclear power reactors. “
Separately, Deutsche Bank AG started coverage on shares of Hollysys Automation Technologies in a research note on Monday, July 11th. They set a “buy” rating and a $25.80 target price for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.78.
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Shares of Hollysys Automation Technologies (NASDAQ:HOLI) traded down 4.06% during mid-day trading on Monday, hitting $20.58. 137,865 shares of the stock were exchanged. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.47 and a beta of 2.06. Hollysys Automation Technologies has a 1-year low of $15.00 and a 1-year high of $23.55. The company’s 50-day moving average is $21.80 and its 200-day moving average is $19.58.
The firm also recently disclosed an annual dividend, which will be paid on Friday, November 11th. Stockholders of record on Wednesday, October 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 24th.
Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Hollysys Automation Technologies by 984.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,639 shares of the company’s stock worth $147,000 after buying an additional 6,027 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Hollysys Automation Technologies by 3.8% in the second quarter. Royal Bank of Canada now owns 251,843 shares of the company’s stock worth $4,375,000 after buying an additional 9,147 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Hollysys Automation Technologies during the second quarter worth about $1,131,000. Pictet Asset Management Ltd. boosted its position in shares of Hollysys Automation Technologies by 88.0% in the second quarter. Pictet Asset Management Ltd. now owns 1,134,022 shares of the company’s stock worth $19,267,000 after buying an additional 530,953 shares in the last quarter. Finally, Ativo Capital Management LLC acquired a new position in shares of Hollysys Automation Technologies during the second quarter worth about $562,000. Institutional investors own 51.78% of the company’s stock.
Hollysys Automation Technologies Company Profile
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