Perceptron, Inc. (NASDAQ:PRCP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Perceptron, Inc. designs, manufactures and markets information based process measurement and guidance solutions which help customers improve performance. Perceptron’s product offerings are designed to improve quality,increase productivity and decrease costs in the automotive and forest products workplace. Perceptron’s design philosophy is to create systems which incorporate sophisticated proprietary software and hardware to minimize the need for customer application engineering. “

Shares of Perceptron (PRCP) traded up 0.40% during mid-day trading on Wednesday, hitting $7.60. 333 shares of the company traded hands. The firm’s market cap is $71.59 million. Perceptron has a 52-week low of $4.61 and a 52-week high of $8.95. The firm has a 50-day moving average price of $7.52 and a 200 day moving average price of $7.61.

Perceptron (NASDAQ:PRCP) last posted its quarterly earnings data on Monday, May 8th. The scientific and technical instruments company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. Perceptron had a negative net margin of 21.55% and a positive return on equity of 2.32%. The business had revenue of $16.33 million for the quarter, compared to the consensus estimate of $17.50 million. Equities research analysts anticipate that Perceptron will post $0.06 EPS for the current fiscal year.

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In other Perceptron news, Director James A. Ratigan acquired 3,910 shares of Perceptron stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $7.66 per share, for a total transaction of $29,950.60. Following the transaction, the director now owns 2,247 shares in the company, valued at approximately $17,212.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.31% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in Perceptron during the first quarter worth approximately $106,000. ClariVest Asset Management LLC purchased a new stake in Perceptron during the first quarter worth approximately $217,000. Algert Global LLC purchased a new stake in Perceptron during the first quarter worth approximately $491,000. Wells Fargo & Company MN raised its stake in Perceptron by 32.6% in the first quarter. Wells Fargo & Company MN now owns 61,886 shares of the scientific and technical instruments company’s stock worth $516,000 after buying an additional 15,200 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in Perceptron by 8.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 405,800 shares of the scientific and technical instruments company’s stock worth $3,384,000 after buying an additional 30,067 shares in the last quarter. 62.89% of the stock is owned by institutional investors.

Perceptron Company Profile

Perceptron, Inc develops, produces and sells a range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and three-dimensional (3D) scanning. The Company’s products include 3D machine vision solutions, robot guidance, coordinate measuring machines (CMMs), laser scanning and advanced analysis software.

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