Zacks Investment Research cut shares of ARC Group Worldwide Inc. (NASDAQ:ARCW) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

A number of other research analysts have also recently commented on ARCW. Imperial Capital increased their target price on ARC Group Worldwide from $3.00 to $4.00 and gave the company an in-line rating in a research note on Tuesday, September 27th. Brean Capital reissued a buy rating and issued a $7.00 target price on shares of ARC Group Worldwide in a research note on Monday, September 12th.

ARC Group Worldwide (NASDAQ:ARCW) opened at 5.15 on Tuesday. The firm has a market capitalization of $96.79 million, a P/E ratio of 53.65 and a beta of 2.88. The firm’s 50-day moving average price is $4.08 and its 200 day moving average price is $2.99. ARC Group Worldwide has a one year low of $1.05 and a one year high of $5.95.

ARC Group Worldwide (NASDAQ:ARCW) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $26.80 million for the quarter, compared to analysts’ expectations of $28.70 million. ARC Group Worldwide had a net margin of 1.64% and a negative return on equity of 1.55%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that ARC Group Worldwide will post $0.08 earnings per share for the current fiscal year.

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A hedge fund recently raised its stake in ARC Group Worldwide stock. First Eagle Investment Management LLC increased its stake in ARC Group Worldwide Inc. (NASDAQ:ARCW) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,340,736 shares of the company’s stock after buying an additional 195,160 shares during the period. First Eagle Investment Management LLC owned 7.13% of ARC Group Worldwide worth $3,057,000 as of its most recent SEC filing. Institutional investors and hedge funds own 10.58% of the company’s stock.

ARC Group Worldwide Company Profile

ARC Group Worldwide, Inc is a manufacturing company. The Company has four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication.

5 Day Chart for NASDAQ:ARCW

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