Arctic Cat Inc. (ACAT) Shares Down 4.4%
Arctic Cat Inc. (NASDAQ:ACAT) shares traded down 4.4% during mid-day trading on Wednesday . The company traded as low as $13.96 and last traded at $13.99, with a volume of 73,617 shares changing hands. The stock had previously closed at $14.63.
A number of research analysts have issued reports on the stock. Feltl & Co. lowered 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 note on Friday, July 29th. Wunderlich reaffirmed a “sell” rating and issued a $13.00 price target (up from $10.00) on shares of Arctic Cat in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of Arctic Cat from a “strong sell” rating to a “hold” rating in a research note on Monday, July 18th. Northcoast Research lowered shares of Arctic Cat from a “buy” rating to a “neutral” rating in a research note on Thursday, June 16th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Arctic Cat in a research note on Monday, May 16th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Arctic Cat has an average rating of “Hold” and an average target price of $15.00.
The company’s 50 day moving average is $16.07 and its 200-day moving average is $16.18. The firm’s market capitalization is $184.88 million.
Arctic Cat (NASDAQ:ACAT) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.45. During the same period in the previous year, the firm posted ($0.08) earnings per share. The company earned $104.90 million during the quarter, compared to the consensus estimate of $117.81 million. The company’s revenue was down 22.0% compared to the same quarter last year. On average, equities research analysts predict that Arctic Cat Inc. will post ($0.92) EPS for the current year.
In other news, Director Andrew S. Duff purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average cost of $14.89 per share, with a total value of $74,450.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Arctic Cat Inc (Arctic Cat) 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 (PG&A). The Company offers its products under the Arctic Cat and MotorFist brand names.
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