ARC Group Worldwide Inc. (ARCW) Lowered to “Hold” at Zacks Investment Research
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 analysts also recently issued research reports about the stock. Brean Capital restated a buy rating and set a $7.00 price objective on shares of ARC Group Worldwide in a research report on Monday, September 12th. Imperial Capital boosted their price objective on shares of ARC Group Worldwide from $4.00 to $4.50 and gave the stock an in-line rating in a research report on Tuesday, November 15th.
ARC Group Worldwide (NASDAQ:ARCW) opened at 5.15 on Tuesday. ARC Group Worldwide has a 12-month low of $1.05 and a 12-month high of $5.95. The stock’s 50 day moving average is $4.08 and its 200 day moving average is $2.99. The stock has a market capitalization of $96.79 million, a price-to-earnings ratio of 53.65 and a beta of 2.88.
ARC Group Worldwide (NASDAQ:ARCW) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The business earned $26.80 million during the quarter, compared to the consensus estimate of $28.70 million. ARC Group Worldwide had a net margin of 1.64% and a negative return on equity of 1.55%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. Equities analysts predict that ARC Group Worldwide will post $0.08 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ARC Group Worldwide stock. Coe Capital Management LLC raised its stake in shares of ARC Group Worldwide Inc. (NASDAQ:ARCW) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,521 shares of the company’s stock after buying an additional 19,197 shares during the period. Coe Capital Management LLC owned approximately 0.50% of ARC Group Worldwide worth $215,000 as of its most recent filing with the SEC. 10.58% of the stock is owned by hedge funds and other institutional investors.
ARC Group Worldwide Company Profile
ARC Group Worldwide, Inc is a manufacturing company. The Company has four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication.
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