Equities research analysts at Aegis started coverage on shares of Accuray Incorporated (NASDAQ:ARAY) in a report released on Monday. The firm set a “buy” rating and a $7.00 price target on the stock. Aegis’ target price would suggest a potential upside of 22.81% from the company’s previous close.
Several other equities analysts also recently weighed in on ARAY. Zacks Investment Research downgraded Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. J P Morgan Chase & Co downgraded Accuray from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.00 in a research report on Wednesday, December 14th. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Sunday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $8.00 price target on shares of Accuray in a research report on Monday, November 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.93.
Shares of Accuray (NASDAQ:ARAY) traded down 2.1965% during trading on Monday, hitting $5.5748. The stock had a trading volume of 54,522 shares. Accuray has a 12-month low of $4.45 and a 12-month high of $6.39. The company’s market cap is $462.13 million. The stock’s 50 day moving average is $5.12 and its 200-day moving average is $5.32.
Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Tuesday, January 31st. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.02. Accuray had a negative net margin of 6.88% and a negative return on equity of 46.38%. The firm earned $87.50 million during the quarter, compared to analysts’ expectations of $93.74 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 19.7% on a year-over-year basis. Analysts forecast that Accuray will post ($0.19) earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in Accuray by 10,585.4% in the third quarter. Bank of Montreal Can now owns 16,776 shares of the company’s stock valued at $107,000 after buying an additional 16,619 shares during the period. Advisory Services Network LLC boosted its stake 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. Acrospire Investment Management LLC boosted its stake in Accuray by 68.8% in the third quarter. Acrospire Investment Management LLC now owns 25,476 shares of the company’s stock valued at $162,000 after buying an additional 10,383 shares during the period. TD Asset Management Inc. boosted its stake in Accuray by 29.0% in the third quarter. TD Asset Management Inc. now owns 43,628 shares of the company’s stock valued at $278,000 after buying an additional 9,800 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in Accuray by 6.4% in the third quarter. Engineers Gate Manager LP now owns 66,262 shares of the company’s stock valued at $422,000 after buying an additional 3,959 shares during the period. Institutional investors and hedge funds own 92.31% of the company’s stock.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.