Arctic Cat Inc. (ACAT) Upgraded to “Hold” by Zacks Investment Research
Arctic Cat Inc. (NASDAQ:ACAT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Arctic Cat, Inc. operates in a single industry segment and designs, engineers , manufactures and markets snowmobiles and all-terrain vehicles under the Arctic Cat brand name, as well as related parts, garments and accessories. The company markets its products through a network of independent dealers located throughout the contiguous United States and Canada, and through distributors representing dealers in Alaska, Europe, the Middle East, Asia and other international markets. “
ACAT has been the subject of a number of other reports. Wunderlich raised shares of Arctic Cat from a “sell” rating to a “hold” rating and set a $13.00 price objective for the company in a research note on Wednesday, September 14th. Jefferies Group initiated coverage on shares of Arctic Cat in a report on Friday. They issued a “buy” rating and a $19.00 target price for the company. Wells Fargo & Co. restated a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. 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 report on Friday, July 29th. Finally, Northcoast Research lowered shares of Arctic Cat from a “buy” rating to a “neutral” rating in a report on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.67.
Shares of Arctic Cat (NASDAQ:ACAT) traded down 1.56% during midday trading on Tuesday, reaching $15.78. 93,689 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $14.66 and its 200 day moving average price is $15.77. Arctic Cat has a 12-month low of $8.90 and a 12-month high of $25.60. The company’s market cap is $205.88 million.
Arctic Cat (NASDAQ:ACAT) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.45. Arctic Cat had a negative return on equity of 10.63% and a negative net margin of 3.10%. The business earned $104.90 million during the quarter, compared to analysts’ expectations of $117.81 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was down 22.0% on a year-over-year basis. Equities analysts anticipate that Arctic Cat will post ($0.92) earnings per share for the current fiscal year.
In related news, Director Andrew S. Duff acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was bought at an average price of $14.89 per share, for a total transaction of $74,450.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors L.L.C. bought a new stake in shares of Arctic Cat during the first quarter worth $412,000. Virginia Retirement System acquired a new stake in Arctic Cat during the first quarter valued at approximately $487,000. Prudential Financial Inc. raised its stake in Arctic Cat by 4.1% in the first quarter. Prudential Financial Inc. now owns 30,685 shares of the company’s stock valued at $516,000 after buying an additional 1,200 shares in the last quarter. Spark Investment Management LLC raised its stake in Arctic Cat by 160.0% in the first quarter. Spark Investment Management LLC now owns 36,400 shares of the company’s stock valued at $611,000 after buying an additional 22,400 shares in the last quarter. Finally, Kempen Capital Management N.V. raised its stake in Arctic Cat by 77.8% in the first quarter. Kempen Capital Management N.V. now owns 9,883 shares of the company’s stock valued at $166,000 after buying an additional 4,323 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.
About Arctic Cat
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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