Zacks Investment Research Lowers ARC Group Worldwide Inc. (ARCW) to Hold
According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “
Other research analysts also recently issued reports about the stock. Brean Capital reaffirmed a buy rating and issued a $7.00 target price on shares of ARC Group Worldwide in a research note on Monday, September 12th. Imperial Capital lifted their target price on shares of ARC Group Worldwide from $3.00 to $4.00 and gave the stock an in-line rating in a research note on Tuesday, September 27th.
ARC Group Worldwide (NASDAQ:ARCW) opened at 3.75 on Friday. The firm’s 50-day moving average is $3.34 and its 200 day moving average is $2.61. The firm’s market cap is $70.48 million. ARC Group Worldwide has a 12-month low of $1.05 and a 12-month high of $4.88.
ARC Group Worldwide (NASDAQ:ARCW) last posted its quarterly earnings results on Friday, September 9th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.04. ARC Group Worldwide had a negative return on equity of 4.41% and a negative net margin of 2.23%. The business had revenue of $27.80 million for the quarter. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that ARC Group Worldwide will post $0.02 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in ARCW. Renaissance Technologies LLC boosted its stake in ARC Group Worldwide by 34.1% in the first quarter. Renaissance Technologies LLC now owns 80,600 shares of the company’s stock valued at $202,000 after buying an additional 20,500 shares during the period. Coe Capital Management LLC boosted its stake in ARC Group Worldwide by 25.8% in the second quarter. Coe Capital Management LLC now owns 93,521 shares of the company’s stock valued at $215,000 after buying an additional 19,197 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in ARC Group Worldwide by 17.0% in the second quarter. First Eagle Investment Management LLC now owns 1,340,736 shares of the company’s stock valued at $3,057,000 after buying an additional 195,160 shares during the period. Institutional investors and hedge funds own 9.93% of the company’s stock.
About ARC Group Worldwide
ARC Group Worldwide, Inc is a manufacturing company. The Company operates through four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. The Precision Components Group companies provide fabricated metal components using processes consisting of metal injection molding, precision metal stamping and hermetic sealing.
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