Ascendiant Capital Starts Hardinge (HDNG) at Buy

Ascendiant Capital initiates coverage on Hardinge (NASDAQ: HDNG) with a Buy rating and a price target of $14.00.

Analyst Theodore O'Neill called the stock a worthwhile look for small cap managers as its is one of the few pure plays on the Industrial sector below $1 billion in market cap.

O'Neill sees HDNG's revenue growth in 2016 down 1%, or right in-line with expectations for the industry.

The analyst sees valuation as attractive at 0.4x EV/sales and a forward P/E of 13x and noted that on August 24, 2015, HDNG announced it was exploring options that could include a sale, merger, other form of business combination or strategic transaction.

For an analyst ratings summary and ratings history on Hardinge click here. For more ratings news on Hardinge click here.

Shares of Hardinge closed at $9.70 yesterday.

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