FY2016 EPS Estimates for Arotech Corp. (ARTX) Lifted by B. Riley
Arotech Corp. (NASDAQ:ARTX) – Equities researchers at B. Riley increased their FY2016 earnings estimates for shares of Arotech Corp. in a research report issued on Wednesday. B. Riley analyst M. Crawford now forecasts that the brokerage will post earnings of ($0.01) per share for the year, up from their previous estimate of ($0.09). B. Riley currently has a “Buy” rating and a $4.50 price target on the stock. B. Riley also issued estimates for Arotech Corp.’s Q4 2016 earnings at $0.02 EPS and FY2017 earnings at $0.08 EPS.
Separately, Zacks Investment Research upgraded Arotech Corp. from a “hold” rating to a “strong-buy” rating and set a $3.75 price target for the company in a research note on Friday.
Shares of Arotech Corp. (NASDAQ:ARTX) opened at 3.20 on Friday. The company has a 50 day moving average price of $2.96 and a 200-day moving average price of $2.93. The firm’s market cap is $81.23 million. Arotech Corp. has a 12-month low of $1.46 and a 12-month high of $4.13.
A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of Arotech Corp. by 0.3% in the third quarter. Northern Trust Corp now owns 41,856 shares of the company’s stock worth $124,000 after buying an additional 128 shares during the last quarter. TFS Capital LLC bought a new position in shares of Arotech Corp. during the second quarter worth approximately $138,000. Spark Investment Management LLC increased its position in shares of Arotech Corp. by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock worth $446,000 after buying an additional 132,800 shares during the last quarter. Cannell Capital LLC bought a new position in shares of Arotech Corp. during the second quarter worth approximately $938,000. Finally, Oxford Asset Management bought a new position in shares of Arotech Corp. during the second quarter worth approximately $971,000. Institutional investors own 15.91% of the company’s stock.
In related news, Chairman Jon B. Kutler bought 10,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was bought at an average cost of $2.60 per share, for a total transaction of $26,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.30% of the stock is owned by corporate insiders.
Arotech Corp. Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
Receive News & Stock Ratings for Arotech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arotech Corp. and related stocks with our FREE daily email newsletter.