Arctic Cat Inc. (ACAT) to Post Q3 2017 Earnings of $0.37 Per Share, KeyCorp Forecasts
Arctic Cat Inc. (NASDAQ:ACAT) – Stock analysts at KeyCorp boosted their Q3 2017 EPS estimates for shares of Arctic Cat in a report released on Wednesday. KeyCorp analyst S. Hamann now anticipates that the firm will post earnings of $0.37 per share for the quarter, up from their previous estimate of $0.10. KeyCorp currently has a “Buy” rating and a $22.00 target price on the stock. KeyCorp also issued estimates for Arctic Cat’s Q4 2017 earnings at $0.05 EPS, FY2017 earnings at ($1.37) EPS and FY2018 earnings at $0.05 EPS.
Arctic Cat (NASDAQ:ACAT) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $1.34. The firm earned $164.20 million during the quarter, compared to the consensus estimate of $196.42 million. Arctic Cat had a negative return on equity of 25.00% and a negative net margin of 7.66%. Arctic Cat’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 EPS.
Several other equities analysts have also recently weighed in on ACAT. Zacks Investment Research cut Arctic Cat from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd. BMO Capital Markets cut Arctic Cat from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $11.00 to $9.00 in a report on Thursday, November 10th. Wells Fargo & Co. reiterated a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. Wunderlich upgraded Arctic Cat from a “sell” rating to a “hold” rating and set a $13.00 target price for the company in a report on Wednesday, September 14th. Finally, Feltl & Co. cut Arctic Cat from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.00.
Arctic Cat (NASDAQ:ACAT) opened at 15.01 on Monday. Arctic Cat has a 12-month low of $8.90 and a 12-month high of $22.53. The company’s market cap is $195.84 million. The firm has a 50-day moving average price of $14.92 and a 200-day moving average price of $15.46.
A number of large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Arctic Cat during the second quarter worth $4,780,000. Addison Clark Management L.L.C. purchased a new stake in shares of Arctic Cat during the second quarter worth $1,360,000. King Luther Capital Management Corp raised its stake in shares of Arctic Cat by 89.5% in the second quarter. King Luther Capital Management Corp now owns 145,712 shares of the company’s stock worth $2,477,000 after buying an additional 68,807 shares during the period. Netols Asset Management Inc. raised its stake in shares of Arctic Cat by 20.8% in the second quarter. Netols Asset Management Inc. now owns 399,105 shares of the company’s stock worth $6,785,000 after buying an additional 68,644 shares during the period. Finally, Rutabaga Capital Management LLC MA purchased a new stake in shares of Arctic Cat during the third quarter worth $943,000. 99.22% of the stock is owned by institutional investors and hedge funds.
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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