More than 3.6 million shares of the electronics company traded hands by 1:45 p.m. Monday, much higher than the average daily trading volume of about 708,000 shares a day.
On Thursday Planar Systems reported its fiscal first quarter earnings results. The company reported earnings of 14 cents a share for the quarter, beating analysts' estimates of 9 cents a share. The company's revenue grew 17% year over year to $53.6 million for the first quarter, above analysts' estimates of $48.5 million for the quarter.
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TheStreet Ratings team rates PLANAR SYSTEMS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PLANAR SYSTEMS INC (PLNR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."