Barrington Thinks PowerFleet’s Stock is Going to Recover

In a report released today, Gary Prestopino from Barrington maintained a Buy rating on PowerFleet (PWFLResearch Report), with a price target of $12.00. The company’s shares closed last Friday at $3.50, close to its 52-week low of $2.55.

According to TipRanks.com, Prestopino ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.4% and a 34.5% success rate. Prestopino covers the Services sector, focusing on stocks such as US Auto Parts Network, Kar Auction Services, and Liquidity Services.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PowerFleet with a $9.42 average price target.

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The company has a one-year high of $8.50 and a one-year low of $2.55. Currently, PowerFleet has an average volume of 148.7K.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PWFL in relation to earlier this year.

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PowerFleet, Inc. engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things (IoT) and machine to machine (M2M) solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets. The company was founded in 1993 and is headquartered in Woodcliff Lake, NJ.