Arabian American Development Price Target Cut to $15.50 (ARSD)
Research analysts at Singular Research reduced their target price on shares of Arabian American Development (NASDAQ:ARSD) from $19.50 to $15.50 in a report released on Monday. The firm currently has a “buy” rating on the stock. Singular Research’s target price points to a potential upside of 51.66% from the stock’s previous close.
In other Arabian American Development news, Director John Richard Townsend sold 4,876 shares of Arabian American Development stock on the open market in a transaction dated Thursday, May 15th. The shares were sold at an average price of $10.00, for a total value of $48,760.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Arabian American Development (NASDAQ:ARSD) traded up 1.38% during mid-day trading on Monday, hitting $10.3606. 4,724 shares of the company’s stock traded hands. Arabian American Development has a 1-year low of $7.38 and a 1-year high of $13.17. The stock has a 50-day moving average of $10.86 and a 200-day moving average of $11.20. The company has a market cap of $250.4 million and a price-to-earnings ratio of 14.60.
Arabian American Development (NASDAQ:ARSD) last released its earnings data on Thursday, May 8th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.07. Analysts expect that Arabian American Development will post $0.82 EPS for the current fiscal year.
Arabian American Development Company is engaged in manufacturing various specialty petrochemical products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.