Hurco Companies (NASDAQ:HURC) Posts Quarterly Earnings Results

Hurco Companies (NASDAQ:HURC) announced its earnings results on Friday. The scientific and technical instruments company reported $0.35 EPS for the quarter, Zacks reports. Hurco Companies had a negative net margin of 6.92% and a negative return on equity of 6.37%.

Hurco Companies Stock Up 7.1%

Shares of Hurco Companies stock opened at $22.80 on Friday. The company has a market capitalization of $147.74 million, a price-to-earnings ratio of -11.63 and a beta of 0.70. Hurco Companies has a 12-month low of $14.50 and a 12-month high of $23.75. The firm’s 50-day moving average price is $22.10 and its two-hundred day moving average price is $18.94.

Hedge Funds Weigh In On Hurco Companies

An institutional investor recently raised its stake in Hurco Companies stock. Marshall Wace LLP increased its position in shares of Hurco Companies, Inc. (NASDAQ:HURC) by 180.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,246 shares of the scientific and technical instruments company’s stock after acquiring an additional 48,397 shares during the period. Marshall Wace LLP owned about 1.14% of Hurco Companies worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.