ARC Group Worldwide Inc. (ARCW) Price Target Raised to $4.00 at Imperial Capital
ARC Group Worldwide Inc. (NASDAQ:ARCW) had its price target boosted by Imperial Capital from $3.00 to $4.00 in a report issued on Tuesday. Imperial Capital currently has an in-line rating on the stock.
Separately, Brean Capital reiterated a buy rating and issued a $7.00 price objective on shares of ARC Group Worldwide in a research note on Monday, September 12th.
ARC Group Worldwide (NASDAQ:ARCW) traded up 1.09% during trading on Tuesday, reaching $3.72. 4,929 shares of the company’s stock were exchanged. The stock’s market capitalization is $69.92 million. ARC Group Worldwide has a 52 week low of $1.05 and a 52 week high of $3.83. The stock has a 50-day moving average of $2.76 and a 200-day moving average of $2.47.
ARC Group Worldwide (NASDAQ:ARCW) last issued its quarterly earnings data on Friday, September 9th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. ARC Group Worldwide had a negative net margin of 2.23% and a negative return on equity of 4.41%. The firm earned $27.80 million during the quarter. During the same period in the prior year, the company posted ($0.04) EPS. The company’s revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that ARC Group Worldwide will post $0.05 EPS for the current year.
Several large investors 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. 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. Finally, 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. 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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