Hollysys Automation Technologies (NASDAQ:HOLI) Upgraded to Buy by Goldman Sachs Group

Goldman Sachs Group upgraded shares of Hollysys Automation Technologies (NASDAQ:HOLI) from a neutral rating to a buy rating in a research note issued to investors on Monday, Benzinga’s Daily Ratings Newsletter reports. They currently have $18.70 price target on the industrial products company’s stock.

HOLI has been the topic of a number of other reports. TheStreet downgraded shares of Hollysys Automation Technologies from a b- rating to a c rating in a research report on Monday, August 5th. ValuEngine raised shares of Hollysys Automation Technologies from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. BidaskClub downgraded shares of Hollysys Automation Technologies from a sell rating to a strong sell rating in a research report on Friday, October 4th. Finally, Zacks Investment Research downgraded shares of Hollysys Automation Technologies from a buy rating to a hold rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $20.23.

Hollysys Automation Technologies stock traded down $0.04 during mid-day trading on Monday, reaching $15.64. 128,900 shares of the company traded hands, compared to its average volume of 250,291. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.25 and a quick ratio of 3.12. The firm’s 50 day moving average price is $14.77 and its 200 day moving average price is $17.07. The firm has a market capitalization of $923.84 million, a price-to-earnings ratio of 6.92 and a beta of 1.39. Hollysys Automation Technologies has a 52-week low of $13.59 and a 52-week high of $24.10.

Hollysys Automation Technologies (NASDAQ:HOLI) last issued its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.14). The company had revenue of $156.99 million for the quarter, compared to analysts’ expectations of $162.75 million. Hollysys Automation Technologies had a net margin of 21.96% and a return on equity of 15.13%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, sell-side analysts anticipate that Hollysys Automation Technologies will post 2.4 EPS for the current year.

The firm also recently announced an annual dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, October 22nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, October 21st. This is an increase from Hollysys Automation Technologies’s previous annual dividend of $0.18. This represents a dividend yield of 1.38%. Hollysys Automation Technologies’s dividend payout ratio is currently 9.29%.

A number of institutional investors have recently made changes to their positions in HOLI. CWM LLC boosted its stake in Hollysys Automation Technologies by 167.0% in the 2nd quarter. CWM LLC now owns 1,335 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Hollysys Automation Technologies by 4,860.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,637 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 1,604 shares in the last quarter. Royal Bank of Canada boosted its stake in Hollysys Automation Technologies by 131.3% in the 2nd quarter. Royal Bank of Canada now owns 1,735 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 985 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Hollysys Automation Technologies by 186.3% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,944 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 1,265 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Hollysys Automation Technologies by 54.6% in the 2nd quarter. US Bancorp DE now owns 3,144 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,110 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

About Hollysys Automation Technologies

Hollysys Automation Technologies Ltd. provides automation and control technologies and products in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS-NMS DCS, a proprietary nuclear power non-safety automation and control system.

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