Arctic Cat Inc. (ACAT) Shares Down 3.1%
Arctic Cat Inc. (NASDAQ:ACAT) was down 3.1% during mid-day trading on Friday . The company traded as low as $14.70 and last traded at $14.70, with a volume of 72,253 shares traded. The stock had previously closed at $15.17.
A number of equities research analysts recently issued reports on ACAT shares. Feltl & Co. cut shares of Arctic Cat from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a research report on Friday, July 29th. Zacks Investment Research cut shares of Arctic Cat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 17th. Wells Fargo & Co. reiterated a “hold” rating on shares of Arctic Cat in a research report on Monday, May 16th. Wunderlich dropped their target price on shares of Arctic Cat from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, May 12th. Finally, Northcoast Research cut shares of Arctic Cat from a “buy” rating to a “neutral” rating in a research report on Thursday, June 16th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $15.00.
The firm’s market cap is $193.23 million. The stock’s 50-day moving average is $16.58 and its 200 day moving average is $16.08.
Arctic Cat (NASDAQ:ACAT) last announced its earnings results on Friday, July 29th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.45. The firm had revenue of $104.90 million for the quarter, compared to the consensus estimate of $117.81 million. The business’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, equities research analysts expect that Arctic Cat Inc. will post ($0.92) earnings per share for the current fiscal year.
In other Arctic Cat news, Director Andrew S. Duff bought 5,000 shares of Arctic Cat stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $14.89 per share, with a total value of $74,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently raised its position in Arctic Cat stock. King Luther Capital Management Corp raised its position in shares of Arctic Cat Inc. (NASDAQ:ACAT) by 569.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,755 shares of the company’s stock after buying an additional 61,895 shares during the period. King Luther Capital Management Corp owned about 0.56% of Arctic Cat worth $1,192,000 at the end of the most recent reporting period.
Arctic Cat Inc designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) and recreational off-highway vehicles (side-by-sides or ROVs), as well as related parts, garments and accessories. The Company offers its products under the Arctic Cat and MotorFist brand names. The Company’s operations include three operating segments: snowmobile, ATV and parts, garments and accessories (PG&A).
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