PowerFleet (NASDAQ:AIOT) Given “Outperform” Rating at Barrington Research

Barrington Research restated their outperform rating on shares of PowerFleet (NASDAQ:AIOT) in a report released on Monday,Benzinga reports. The firm currently has a $15.00 target price on the stock.

A number of other research analysts have also recently weighed in on the company. Wall Street Zen upgraded PowerFleet from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Raymond James Financial dropped their price target on PowerFleet from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Finally, Lake Street Capital set a $8.00 price target on PowerFleet and gave the company a “buy” rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, PowerFleet presently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

PowerFleet Trading Up 13.4%

NASDAQ:AIOT opened at $4.39 on Monday. The stock has a fifty day moving average price of $4.42 and a two-hundred day moving average price of $5.31. The stock has a market capitalization of $585.80 million, a price-to-earnings ratio of -10.21 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.12. PowerFleet has a 1 year low of $3.70 and a 1 year high of $8.71.

PowerFleet (NASDAQ:AIOT) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $104.12 million during the quarter, compared to analysts’ expectations of $103.18 million. PowerFleet had a negative return on equity of 11.68% and a negative net margin of 14.06%. As a group, sell-side analysts anticipate that PowerFleet will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of PowerFleet

Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of PowerFleet during the first quarter valued at $172,000. The Manufacturers Life Insurance Company acquired a new stake in shares of PowerFleet during the fourth quarter valued at $219,000. Legal & General Group Plc acquired a new stake in shares of PowerFleet during the fourth quarter valued at $58,000. Geode Capital Management LLC acquired a new stake in shares of PowerFleet during the fourth quarter valued at $15,938,000. Finally, Bank of America Corp DE acquired a new stake in shares of PowerFleet during the fourth quarter valued at $1,487,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

PowerFleet Company Profile

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.