Jefferies Group Weighs in on Arctic Cat Inc.’s Q3 2017 Earnings (ACAT)
Arctic Cat Inc. (NASDAQ:ACAT) – Equities researchers at Jefferies Group lifted their Q3 2017 EPS estimates for Arctic Cat in a note issued to investors on Thursday. Jefferies Group analyst T. Young now expects that the firm will post earnings per share of $0.33 for the quarter, up from their previous forecast of $0.06. Jefferies Group has a “Buy” rating and a $19.00 price objective on the stock. Jefferies Group also issued estimates for Arctic Cat’s Q4 2017 earnings at $0.07 EPS, FY2017 earnings at ($1.39) EPS and FY2019 earnings at $1.46 EPS.
ACAT has been the topic of a number of other reports. Zacks Investment Research lowered Arctic Cat from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd. KeyCorp reaffirmed a “buy” rating and set a $22.00 target price on shares of Arctic Cat in a report on Thursday, October 6th. Wunderlich raised Arctic Cat from a “sell” rating to a “hold” rating and set a $13.00 target price on the stock in a report on Wednesday, September 14th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. Finally, BMO Capital Markets lowered Arctic Cat from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $11.00 to $9.00 in a report on Thursday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Arctic Cat currently has an average rating of “Hold” and an average target price of $15.00.
Arctic Cat (NASDAQ:ACAT) opened at 15.11 on Monday. The stock’s 50 day moving average is $14.88 and its 200 day moving average is $15.50. The stock’s market capitalization is $197.22 million. Arctic Cat has a one year low of $8.90 and a one year high of $22.53.
Arctic Cat (NASDAQ:ACAT) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $1.34. The company had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $196.42 million. Arctic Cat had a negative return on equity of 25.00% and a negative net margin of 7.66%. The company’s revenue was down 22.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its position in Arctic Cat by 5.9% in the third quarter. BlackRock Fund Advisors now owns 938,128 shares of the company’s stock valued at $14,532,000 after buying an additional 52,325 shares during the period. Dimensional Fund Advisors LP boosted its position in Arctic Cat by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 705,015 shares of the company’s stock valued at $11,985,000 after buying an additional 58,682 shares during the period. Vanguard Group Inc. boosted its position in Arctic Cat by 3.5% in the second quarter. Vanguard Group Inc. now owns 612,010 shares of the company’s stock valued at $10,404,000 after buying an additional 20,619 shares during the period. Netols Asset Management Inc. boosted its position in Arctic Cat by 20.8% in the second quarter. Netols Asset Management Inc. now owns 399,105 shares of the company’s stock valued at $6,785,000 after buying an additional 68,644 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Arctic Cat by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 336,806 shares of the company’s stock valued at $5,217,000 after buying an additional 3,223 shares during the period. 99.22% of the stock is currently owned by institutional investors.
About Arctic Cat
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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