PowerFleet’s (AIOT) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of PowerFleet (NASDAQ:AIOT) in a research report released on Friday morning,Benzinga reports. Barrington Research currently has a $15.00 price objective on the stock.

Several other research firms have also recently commented on AIOT. Zacks Research raised PowerFleet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. William Blair reissued an “outperform” rating on shares of PowerFleet in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of PowerFleet from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.50.

PowerFleet Price Performance

Shares of AIOT opened at $4.84 on Friday. The company has a market cap of $647.69 million, a P/E ratio of -15.61 and a beta of 1.33. PowerFleet has a fifty-two week low of $3.70 and a fifty-two week high of $8.71. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average price is $5.30 and its 200 day moving average price is $5.01.

PowerFleet (NASDAQ:AIOT) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $111.68 million during the quarter, compared to the consensus estimate of $105.51 million. PowerFleet had a negative net margin of 9.70% and a negative return on equity of 9.00%. On average, research analysts forecast that PowerFleet will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in PowerFleet by 198.0% in the first quarter. Royal Bank of Canada now owns 91,365 shares of the company’s stock valued at $501,000 after acquiring an additional 60,705 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PowerFleet by 275.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 203,211 shares of the company’s stock worth $1,116,000 after purchasing an additional 149,116 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PowerFleet in the 1st quarter valued at about $251,000. Goldman Sachs Group Inc. lifted its holdings in shares of PowerFleet by 15.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,045,424 shares of the company’s stock valued at $5,739,000 after purchasing an additional 138,856 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of PowerFleet in the 1st quarter valued at about $3,670,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

PowerFleet Company Profile

PowerFleet, Inc (NASDAQ: AIOT) develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company’s systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company’s hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.