KeyCorp Reiterates Buy Rating for Cray (CRAY)

Cray (NASDAQ:CRAY)‘s stock had its “buy” rating reissued by equities researchers at KeyCorp in a research note issued on Friday. They presently have a $31.00 price objective on the technology company’s stock. KeyCorp’s price objective would suggest a potential upside of 22.29% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “sell” rating in a research report on Monday, January 1st. BidaskClub raised shares of Cray from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a research report on Monday, November 27th. ValuEngine raised shares of Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, Craig Hallum raised shares of Cray from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.80.

Shares of Cray (NASDAQ:CRAY) opened at $25.35 on Friday. The stock has a market cap of $1,025.10, a P/E ratio of 68.51 and a beta of 1.69. Cray has a 12 month low of $16.10 and a 12 month high of $26.65.

Cray (NASDAQ:CRAY) last posted its quarterly earnings data on Monday, October 30th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.16. Cray had a net margin of 2.71% and a return on equity of 0.73%. The company had revenue of $79.70 million for the quarter, compared to analyst estimates of $59.67 million. During the same quarter last year, the firm posted ($0.49) earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. analysts expect that Cray will post -1.14 earnings per share for the current fiscal year.

In other Cray news, SVP Michael Charles Piraino sold 30,000 shares of Cray stock in a transaction on Monday, November 27th. The shares were sold at an average price of $22.61, for a total value of $678,300.00. Following the completion of the transaction, the senior vice president now owns 72,384 shares of the company’s stock, valued at $1,636,602.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Charles A. Morreale sold 42,680 shares of Cray stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $19.37, for a total transaction of $826,711.60. The disclosure for this sale can be found here. Insiders have sold 74,005 shares of company stock valued at $1,534,913 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Cray in the third quarter worth $101,000. SG Americas Securities LLC acquired a new position in Cray in the third quarter worth $124,000. BNP Paribas Arbitrage SA boosted its holdings in Cray by 59.6% in the second quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the technology company’s stock worth $246,000 after purchasing an additional 5,001 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Cray by 57.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,120 shares of the technology company’s stock worth $294,000 after purchasing an additional 5,500 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Cray in the third quarter worth $375,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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About Cray

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

Analyst Recommendations for Cray (NASDAQ:CRAY)

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