Hardinge Inc. (HDNG) Raised to “Buy” at ValuEngine
Hardinge Inc. (NASDAQ:HDNG) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Separately, TheStreet cut Hardinge from a “c” rating to a “d+” rating in a research report on Friday, May 5th.
Shares of Hardinge (NASDAQ:HDNG) traded down 2.89% on Wednesday, hitting $12.11. The stock had a trading volume of 21,891 shares. The company has a market cap of $156.64 million, a price-to-earnings ratio of 417.59 and a beta of 0.90. The firm’s 50-day moving average is $11.86 and its 200-day moving average is $11.14. Hardinge has a one year low of $8.24 and a one year high of $12.90.
Hardinge (NASDAQ:HDNG) last announced its quarterly earnings results on Friday, May 5th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $64.56 million for the quarter. Hardinge had a return on equity of 2.50% and a net margin of 0.15%. On average, analysts expect that Hardinge will post $0.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 31st were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, May 26th. Hardinge’s dividend payout ratio (DPR) is 266.76%.
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In related news, CEO Richard L. Simons sold 3,900 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $11.87, for a total value of $46,293.00. Following the completion of the transaction, the chief executive officer now directly owns 56,752 shares of the company’s stock, valued at approximately $673,646.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles P. Dougherty acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average cost of $12.68 per share, with a total value of $63,400.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares in the company, valued at $63,400. The disclosure for this purchase can be found here. Corporate insiders own 11.50% of the company’s stock.
Hardinge Inc (Hardinge) is a designer, manufacturer and distributor of machine tools, specializing in precision computer numerically controlled metalcutting machines and workholding technology solutions. The Company supplies high precision computer controlled metalcutting turning machines, grinding machines, machining centers and repair parts related to those machines.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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