Zacks Investment Research Downgrades Arctic Cat Inc. (ACAT) to Strong Sell
Arctic Cat Inc. (NASDAQ:ACAT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday.
According to Zacks, “Arctic Cat, Inc. operates in a single industry segment and designs, engineers , manufactures and markets snowmobiles and all-terrain vehicles under the Arctic Cat brand name, as well as related parts, garments and accessories. The company markets its products through a network of independent dealers located throughout the contiguous United States and Canada, and through distributors representing dealers in Alaska, Europe, the Middle East, Asia and other international markets. “
Several other analysts also recently weighed in on ACAT. Jefferies Group initiated coverage on Arctic Cat in a research report on Friday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Wunderlich raised 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. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. 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. Finally, KeyCorp reaffirmed a “buy” rating and issued a $22.00 target price on shares of Arctic Cat in a report on Thursday, October 6th. Four investment analysts have rated the stock with a sell rating, five have issued 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 one year low of $8.90 and a one year high of $22.53. The firm’s 50-day moving average price is $14.92 and its 200-day moving average price is $15.46. The company’s market cap is $195.84 million.
Arctic Cat (NASDAQ:ACAT) last released its earnings results on Wednesday, November 9th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $1.34. The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $196.42 million. Arctic Cat had a negative net margin of 7.66% and a negative return on equity of 25.00%. The business’s revenue was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that Arctic Cat will post ($1.36) earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BlackRock Advisors LLC raised its stake in shares of Arctic Cat by 11.1% in the third quarter. BlackRock Advisors LLC now owns 6,730 shares of the company’s stock valued at $104,000 after buying an additional 674 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Arctic Cat by 7.8% in the third quarter. BlackRock Group LTD now owns 8,818 shares of the company’s stock valued at $137,000 after buying an additional 635 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Arctic Cat during the third quarter valued at approximately $154,000. KCG Holdings Inc. acquired a new stake in shares of Arctic Cat during the third quarter valued at approximately $183,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of Arctic Cat during the third quarter valued at approximately $197,000. Institutional investors own 99.22% of the company’s stock.
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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