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

PowerFleet (NASDAQ:PWFL) had its target price lifted by analysts at Barrington Research from $7.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s price objective suggests a potential upside of 104.50% from the stock’s previous close.

Several other research firms have also weighed in on PWFL. Craig Hallum began coverage on PowerFleet in a research note on Friday, March 15th. They set a “buy” rating and a $9.00 price objective for the company. TheStreet upgraded PowerFleet from a “d” rating to a “c-” rating in a report on Thursday, March 14th. Raymond James restated an “outperform” rating and issued a $7.00 target price on shares of PowerFleet in a report on Tuesday, April 2nd. Northland Securities initiated coverage on PowerFleet in a report on Monday, March 18th. They issued an “outperform” rating and a $7.00 target price for the company. Finally, Canaccord Genuity Group increased their target price on PowerFleet from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.43.

PowerFleet Stock Performance

PWFL opened at $4.89 on Tuesday. The firm has a market cap of $527.73 million, a PE ratio of -15.77 and a beta of 1.72. The company has a quick ratio of 1.28, a current ratio of 1.71 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $3.14. PowerFleet has a fifty-two week low of $1.64 and a fifty-two week high of $5.67.

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

Institutional Trading of PowerFleet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Capital Management LLC raised its holdings 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 worth $19,761,000 after acquiring an additional 549,495 shares in the last quarter. AWM Investment Company Inc. raised its holdings in shares of PowerFleet by 5.2% during the third quarter. AWM Investment Company Inc. now owns 2,974,946 shares of the company’s stock worth $6,158,000 after acquiring an additional 147,408 shares in the last quarter. Perritt Capital Management Inc. raised its holdings in shares of PowerFleet by 4.7% during the fourth quarter. Perritt Capital Management Inc. now owns 304,188 shares of the company’s stock worth $1,040,000 after acquiring an additional 13,700 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of PowerFleet by 35.1% during the fourth quarter. Equitable Trust Co. now owns 269,992 shares of the company’s stock worth $923,000 after acquiring an additional 70,198 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of PowerFleet during the first quarter worth $1,377,000. 73.40% of the stock is currently 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.