Jason Industries Inc. (NASDAQ:JASN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Jason Industries, Inc. engages in the manufacturing of Finishing, Seating, Components, and Automotive Acoustics. It produces finishing products, including industrial brushes, buffing wheels, and buffing compounds; supplies seating solutions to equipment manufacturers in the motorcycle, lawn and turf care, industrial, agricultural, construction, and power sports end markets, as well as original equipment manufacturer seating for the heavyweight motorcycles; manufactures engineered non-woven, fiber-based acoustical products; manufactures stamped, formed, expanded, and perforated metal components and subassemblies. Jason Industries, Inc. is headquartered in Milwaukee, Wisconsin. “
Separately, Stifel Nicolaus reduced their price target on shares of Jason Industries from $4.00 to $3.25 and set a “buy” rating for the company in a research note on Monday, November 7th.
Shares of Jason Industries (NASDAQ:JASN) traded up 1.16% during trading on Tuesday, hitting $1.75. 8,845 shares of the stock were exchanged. Jason Industries has a 52-week low of $1.46 and a 52-week high of $4.23. The stock’s market cap is $39.19 million. The firm has a 50 day moving average of $1.87 and a 200-day moving average of $2.82.
Jason Industries (NASDAQ:JASN) last announced its quarterly earnings results on Friday, November 4th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Jason Industries had a negative net margin of 10.79% and a negative return on equity of 4.78%. The firm earned $170.10 million during the quarter, compared to analyst estimates of $170.20 million. Equities research analysts anticipate that Jason Industries will post ($0.23) earnings per share for the current fiscal year.
In other news, major shareholder Wynnefield Partners Small Cap purchased 15,330 shares of the stock in a transaction on Saturday, December 31st. The shares were acquired at an average price of $3.42 per share, with a total value of $52,428.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jeffry N. Quinn purchased 100,700 shares of the stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $2.17 per share, for a total transaction of $218,519.00. The disclosure for this purchase can be found here. Corporate insiders own 23.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of JASN. Credit Agricole S A increased its position in shares of Jason Industries by 1.6% in the first quarter. Credit Agricole S A now owns 137,844 shares of the company’s stock valued at $482,000 after buying an additional 2,126 shares in the last quarter. Lorber David A purchased a new position in shares of Jason Industries during the first quarter valued at $129,000. Gamco Investors INC. ET AL increased its position in shares of Jason Industries by 0.6% in the second quarter. Gamco Investors INC. ET AL now owns 35,500 shares of the company’s stock valued at $128,000 after buying an additional 200 shares in the last quarter. Heartland Advisors Inc. increased its position in shares of Jason Industries by 20.2% in the second quarter. Heartland Advisors Inc. now owns 1,201,900 shares of the company’s stock valued at $4,339,000 after buying an additional 201,900 shares in the last quarter. Finally, Spark Investment Management LLC increased its position in shares of Jason Industries by 50.3% in the third quarter. Spark Investment Management LLC now owns 74,400 shares of the company’s stock valued at $165,000 after buying an additional 24,900 shares in the last quarter. 58.84% of the stock is currently owned by institutional investors and hedge funds.
About Jason Industries
Jason Industries is the parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Indiana and Burgwald, Germany) and Sealeze (Richmond, Va.).