Jason Industries Inc. (NASDAQ:JASN) had its target price reduced by Stifel Nicolaus from $4.00 to $3.25 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 85.71% from the company’s previous close.
Separately, Zacks Investment Research lowered shares of Jason Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th.
Shares of Jason Industries (NASDAQ:JASN) traded up 1.16% during mid-day trading on Monday, reaching $1.75. 8,845 shares of the company’s stock traded hands. Jason Industries has a 52 week low of $1.46 and a 52 week high of $4.23. The company’s 50 day moving average is $1.87 and its 200-day moving average is $2.82. The firm’s market cap is $39.19 million.
Jason Industries (NASDAQ:JASN) last issued its quarterly earnings results on Friday, November 4th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business earned $170.10 million during the quarter, compared to analyst estimates of $170.20 million. Jason Industries had a negative net margin of 10.79% and a negative return on equity of 4.78%. Equities analysts expect that Jason Industries will post ($0.23) earnings per share for the current fiscal year.
In other Jason Industries news, Chairman Jeffry N. Quinn acquired 100,700 shares of Jason Industries stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $2.17 per share, with a total value of $218,519.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Wynnefield Partners Small Cap acquired 300,000 shares of Jason Industries stock in a transaction on Thursday, September 8th. The stock was acquired at an average cost of $2.15 per share, for a total transaction of $645,000.00. The disclosure for this purchase can be found here. 23.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in JASN. Heartland Advisors Inc. boosted 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 worth $4,339,000 after buying an additional 201,900 shares during the last quarter. Lorber David A acquired a new position in shares of Jason Industries during the first quarter worth about $129,000. Spark Investment Management LLC boosted 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 worth $165,000 after buying an additional 24,900 shares during the last quarter. Credit Agricole S A boosted 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 worth $482,000 after buying an additional 2,126 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted 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 worth $128,000 after buying an additional 200 shares during the last quarter. 58.84% of the stock is currently owned by hedge funds and other institutional investors.
About Jason Industries