Arctic Cat Lowered to Neutral at McLean Capital Management (ACAT)
Arctic Cat (NASDAQ:ACAT) was downgraded by equities research analysts at McLean Capital Management from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Stock Ratings Network reports.
Arctic Cat (NASDAQ:ACAT) traded down 0.39% on Friday, hitting $50.44. 135,036 shares of the company’s stock traded hands. Arctic Cat has a 52-week low of $32.12 and a 52-week high of $58.26. The stock’s 50-day moving average is $55.79 and its 200-day moving average is $47.68. The company has a market cap of $678.6 million and a P/E ratio of 16.04.
Arctic Cat (NASDAQ:ACAT) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.70 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.96 by $0.26. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $251.62 million. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that Arctic Cat will post $3.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.79%.
A number of other analysts have also recently weighed in on ACAT. Analysts at Zacks downgraded shares of Arctic Cat from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $61.90 price target on the stock. Separately, analysts at Feltl & Co. raised their price target on shares of Arctic Cat from $57.00 to $61.00 in a research note to investors on Monday, September 9th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Arctic Cat from $44.00 to $48.00 in a research note to investors on Monday, July 29th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.97.
Arctic Cat Inc designs, engineers, manufacture and market snowmobiles and all-terrain vehicles (NASDAQ:ACAT) under the Arctic Cat brand name, as well as related parts, garments and accessories (PG&A).
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