Arctic Cat Inc. (ACAT) Updates FY17 Earnings Guidance
Arctic Cat Inc. (NASDAQ:ACAT) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of ($1.40-1.00) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.92). The company issued revenue guidance of $600-640 million, compared to the consensus revenue estimate of $627.06 million.
A number of brokerages recently issued reports on ACAT. BMO Capital Markets cut Arctic Cat from a market perform rating to an underperform rating and dropped their price objective for the stock from $11.00 to $9.00 in a report on Thursday. KeyCorp reissued a buy rating and set a $22.00 price objective on shares of Arctic Cat in a report on Thursday, October 6th. Zacks Investment Research raised Arctic Cat from a strong sell rating to a hold rating in a report on Tuesday, October 4th. Jefferies Group began coverage on Arctic Cat in a report on Friday, September 30th. They set a buy rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Co. reissued a hold rating on shares of Arctic Cat in a report on Tuesday, September 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $15.00.
Shares of Arctic Cat Inc. (NASDAQ:ACAT) opened at 14.82 on Friday. Arctic Cat Inc. has a 12-month low of $8.90 and a 12-month high of $22.53. The stock’s market cap is $193.43 million. The firm has a 50 day moving average price of $14.87 and a 200 day moving average price of $15.51.
Arctic Cat (NASDAQ:ACAT) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $1.34. Arctic Cat had a negative net margin of 3.10% and a negative return on equity of 10.63%. The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $196.42 million. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue for the quarter was down 22.0% on a year-over-year basis. On average, equities analysts expect that Arctic Cat Inc. will post ($0.92) EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in ACAT. KCG Holdings Inc. bought a new stake in Arctic Cat during the third quarter valued at about $183,000. Principal Financial Group Inc. raised its stake in Arctic Cat by 2.8% in the third quarter. Principal Financial Group Inc. now owns 94,397 shares of the company’s stock valued at $1,462,000 after buying an additional 2,545 shares in the last quarter. Northern Trust Corp raised its stake in Arctic Cat by 1.9% in the third quarter. Northern Trust Corp now owns 179,987 shares of the company’s stock valued at $2,788,000 after buying an additional 3,370 shares in the last quarter. California State Teachers Retirement System raised its stake in Arctic Cat by 1.1% in the third quarter. California State Teachers Retirement System now owns 27,767 shares of the company’s stock valued at $430,000 after buying an additional 300 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Arctic Cat by 1.0% in the third quarter. Ameriprise Financial Inc. now owns 193,571 shares of the company’s stock valued at $2,999,000 after buying an additional 1,960 shares in the last quarter. 99.75% of the stock is 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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