ARC Group Worldwide Inc. (ARCW) Raised to Strong-Buy at Zacks Investment Research
ARC Group Worldwide Inc. (NASDAQ:ARCW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The firm presently has a $4.50 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 7.14% from the company’s current price.
According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “
ARCW has been the subject of a number of other reports. Imperial Capital increased their price objective on shares of ARC Group Worldwide from $3.00 to $4.00 and gave the company an “in-line” rating in a report on Tuesday, September 27th. Brean Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of ARC Group Worldwide in a report on Monday, September 12th.
Shares of ARC Group Worldwide (NASDAQ:ARCW) traded up 5.00% during midday trading on Wednesday, reaching $4.20. 47,715 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $3.92 and its 200 day moving average price is $2.85. ARC Group Worldwide has a one year low of $1.05 and a one year high of $4.88. The firm’s market capitalization is $78.94 million.
ARC Group Worldwide (NASDAQ:ARCW) last released its earnings results on Thursday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company earned $26.80 million during the quarter, compared to analyst estimates of $28.70 million. ARC Group Worldwide had a net margin of 1.64% and a negative return on equity of 1.55%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. On average, equities research analysts expect that ARC Group Worldwide will post $0.01 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ARC Group Worldwide stock. Coe Capital Management LLC raised its position in shares of ARC Group Worldwide Inc. (NASDAQ:ARCW) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,521 shares of the company’s stock after buying an additional 19,197 shares during the period. Coe Capital Management LLC owned 0.50% of ARC Group Worldwide worth $215,000 as of its most recent SEC filing. Institutional investors own 10.79% 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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