Barrington Research Increases PowerFleet (NASDAQ:PWFL) Price Target to $10.00

PowerFleet (NASDAQ:PWFL) had its price target boosted by Barrington Research from $7.00 to $10.00 in a research report released on Tuesday, Benzinga reports. Barrington Research currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on PWFL. Craig Hallum started coverage on shares of PowerFleet in a research report on Friday, March 15th. They set a buy rating and a $9.00 price objective on the stock. Raymond James restated an outperform rating and issued a $7.00 price target on shares of PowerFleet in a research note on Tuesday, April 2nd. William Blair started coverage on PowerFleet in a research report on Wednesday, April 3rd. They set an outperform rating for the company. Northland Securities initiated coverage on PowerFleet in a report on Monday, March 18th. They issued an outperform rating and a $7.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on PowerFleet from $6.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $8.43.

PowerFleet Stock Performance

Shares of PWFL opened at $4.99 on Tuesday. The company has a market cap of $538.52 million, a price-to-earnings ratio of -16.10 and a beta of 1.75. The business’s fifty day simple moving average is $4.10 and its two-hundred day simple moving average is $3.15. PowerFleet has a 12 month low of $1.64 and a 12 month high of $5.67. The company has a current ratio of 1.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.12.

PowerFleet (NASDAQ:PWFL) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). PowerFleet had a negative net margin of 3.86% and a negative return on equity of 6.08%. The business had revenue of $34.50 million for the quarter, compared to analysts’ expectations of $33.23 million. Research analysts anticipate that PowerFleet will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerFleet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. purchased a new position in PowerFleet during the first quarter valued at approximately $1,377,000. Private Capital Management LLC grew its position in shares of PowerFleet by 10.5% during the fourth quarter. Private Capital Management LLC now owns 5,778,189 shares of the company’s stock valued at $19,761,000 after purchasing an additional 549,495 shares in the last quarter. Sierra Summit Advisors LLC bought a new stake in shares of PowerFleet in the fourth quarter worth about $121,000. Perritt Capital Management Inc. lifted its position in shares of PowerFleet by 4.7% in the fourth quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after buying an additional 13,700 shares in the last quarter. Finally, Symmetry Peak Management LLC bought a new position in PowerFleet during the fourth quarter valued at approximately $479,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

About PowerFleet

PowerFleet, Inc provides wireless Internet-of-Things (IoT) asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.