BMO Capital Markets Lowers Arctic Cat Inc. (ACAT) to Underperform
Arctic Cat Inc. (NASDAQ:ACAT) was downgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued on Thursday.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Arctic Cat from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd. KeyCorp reaffirmed a “buy” rating and issued a $22.00 price target on shares of Arctic Cat in a report on Thursday, October 6th. Feltl & Co. downgraded Arctic Cat from a “hold” rating to a “sell” rating and set a $12.00 price target for the company. in a report on Friday, July 29th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. Finally, Wunderlich raised Arctic Cat from a “sell” rating to a “hold” rating and set a $13.00 price target for the company in a report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.00.
Shares of Arctic Cat (NASDAQ:ACAT) opened at 14.51 on Thursday. Arctic Cat has a one year low of $8.90 and a one year high of $22.53. The company’s market cap is $189.31 million. The firm has a 50-day moving average of $14.87 and a 200-day moving average of $15.52.
Arctic Cat (NASDAQ:ACAT) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $1.34. The company earned $164.20 million during the quarter, compared to analysts’ expectations of $196.42 million. Arctic Cat had a negative net margin of 3.10% and a negative return on equity of 10.63%. The firm’s quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Equities research analysts forecast that Arctic Cat will post ($0.92) EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Arctic Cat by 3.0% in the second quarter. Principal Financial Group Inc. now owns 91,852 shares of the company’s stock valued at $1,561,000 after buying an additional 2,649 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Arctic Cat during the second quarter valued at $513,000. California Public Employees Retirement System increased its position in Arctic Cat by 32.8% in the second quarter. California Public Employees Retirement System now owns 59,900 shares of the company’s stock valued at $1,018,000 after buying an additional 14,800 shares during the period. Emerald Acquisition Ltd. acquired a new position in Arctic Cat during the second quarter valued at $4,780,000. Finally, Teachers Advisors Inc. increased its position in Arctic Cat by 7.5% in the second quarter. Teachers Advisors Inc. now owns 19,928 shares of the company’s stock valued at $339,000 after buying an additional 1,395 shares during the period. 99.75% of the stock is currently owned by institutional investors and hedge funds.
Arctic Cat Company Profile
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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