Accuray Inc. (NASDAQ:ARAY)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research note issued on Tuesday. They currently have a $8.00 price target on the stock. Jefferies Group’s price target suggests a potential upside of 29.87% from the stock’s current price.
Other analysts have also issued research reports about the stock. Morgan Stanley set a $8.00 price target on shares of Accuray and gave the company a “hold” rating in a research report on Thursday, August 18th. Cowen and Company initiated coverage on shares of Accuray in a report on Tuesday, September 13th. They issued an “outperform” rating and a $9.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.46.
Accuray (NASDAQ:ARAY) opened at 6.16 on Tuesday. Accuray has a 12 month low of $4.75 and a 12 month high of $7.54. The stock has a 50 day moving average price of $5.49 and a 200 day moving average price of $5.44. The stock’s market capitalization is $502.50 million.
Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, August 17th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $95 million for the quarter, compared to analysts’ expectations of $98.97 million. Accuray had a negative net margin of 5.55% and a negative return on equity of 35.82%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. Equities analysts predict that Accuray will post ($0.17) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Accuray during the second quarter valued at approximately $104,000. Trexquant Investment LP acquired a new position in Accuray during the second quarter valued at approximately $109,000. Advisory Services Network LLC increased its position in Accuray by 19.0% in the second quarter. Advisory Services Network LLC now owns 21,900 shares of the company’s stock valued at $114,000 after buying an additional 3,500 shares during the period. Stevens Capital Management LP acquired a new position in Accuray during the second quarter valued at approximately $116,000. Finally, Societe Generale acquired a new position in Accuray during the second quarter valued at approximately $331,000. Institutional investors and hedge funds own 92.55% of the company’s stock.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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