Pointer Telocation Ltd. (PNTR) Downgraded by Zacks Investment Research to “Sell”

Pointer Telocation Ltd. (NASDAQ:PNTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, June 29th.

According to Zacks, “Pointer Telocation Ltd provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. “

Other analysts have also recently issued research reports about the stock. Rodman & Renshaw raised their price objective on shares of Pointer Telocation from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 19th. ValuEngine upgraded shares of Pointer Telocation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd.

Pointer Telocation (NASDAQ:PNTR) traded down 2.95% on Thursday, hitting $13.15. 46,990 shares of the company traded hands. The stock has a market cap of $103.98 million, a PE ratio of 28.90 and a beta of 0.63. Pointer Telocation has a 12 month low of $5.40 and a 12 month high of $14.65. The stock’s 50-day moving average is $12.64 and its 200 day moving average is $9.90.

Pointer Telocation (NASDAQ:PNTR) last issued its earnings results on Thursday, May 18th. The communications equipment provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.08. The business had revenue of $19.03 million for the quarter, compared to the consensus estimate of $17.10 million. Pointer Telocation had a net margin of 5.34% and a return on equity of 15.39%. Equities research analysts expect that Pointer Telocation will post $0.78 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in PNTR. Acadian Asset Management LLC boosted its stake in shares of Pointer Telocation by 70.1% in the second quarter. Acadian Asset Management LLC now owns 12,925 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 5,327 shares during the period. Eagle Global Advisors LLC bought a new stake in shares of Pointer Telocation during the first quarter valued at approximately $159,000. Rice Hall James & Associates LLC boosted its stake in shares of Pointer Telocation by 209.5% in the first quarter. Rice Hall James & Associates LLC now owns 49,371 shares of the communications equipment provider’s stock valued at $437,000 after buying an additional 33,421 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Pointer Telocation by 13.8% in the fourth quarter. Renaissance Technologies LLC now owns 168,300 shares of the communications equipment provider’s stock valued at $1,144,000 after buying an additional 20,400 shares during the period. Hedge funds and other institutional investors own 7.04% of the company’s stock.

About Pointer Telocation

Pointer Telocation Ltd. is a provider of mobile resource management (MRM) products and services for the automotive, insurance industries and other mobile tracking markets, such as cargo, assets, shipping and containers. The Company offers roadside assistance (RSA) services, automobile repair and towing services, stolen vehicle recovery (SVR) and other services.

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