Arctic Cat Inc. (ACAT) Given Average Rating of “Hold” by Brokerages
Shares of Arctic Cat Inc. (NASDAQ:ACAT) have been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.33.
ACAT has been the topic of a number of research reports. Feltl & Co. lowered Arctic Cat from a “hold” rating to a “sell” rating and set a $12.00 price objective on the stock. in a report on Friday, July 29th. Wunderlich restated a “sell” rating and issued a $13.00 price objective (up previously from $10.00) on shares of Arctic Cat in a report on Tuesday, July 12th. Zacks Investment Research upgraded Arctic Cat from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 4th. Wells Fargo & Co. restated a “hold” rating on shares of Arctic Cat in a report on Tuesday, September 20th. Finally, Jefferies Group initiated coverage on Arctic Cat in a report on Friday, September 30th. They issued a “buy” rating and a $19.00 price objective on the stock.
Shares of Arctic Cat (NASDAQ:ACAT) traded up 1.1242% during mid-day trading on Tuesday, hitting $15.0574. 33,774 shares of the stock were exchanged. The company has a 50-day moving average price of $14.63 and a 200-day moving average price of $15.66. Arctic Cat has a 12 month low of $8.90 and a 12 month high of $25.60. The stock’s market cap is $196.45 million.
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Arctic Cat (NASDAQ:ACAT) last announced its earnings results on Friday, July 29th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.45. Arctic Cat had a negative net margin of 3.10% and a negative return on equity of 10.63%. The business had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $117.81 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s quarterly revenue was down 22.0% on a year-over-year basis. Equities analysts expect that Arctic Cat will post ($0.92) earnings per share for the current year.
In related news, Director Andrew S. Duff bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $14.89 per share, with a total value of $74,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Kempen Capital Management N.V. increased its stake in shares of Arctic Cat by 77.8% in the first quarter. Kempen Capital Management N.V. now owns 9,883 shares of the company’s stock worth $166,000 after buying an additional 4,323 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Arctic Cat by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,144 shares of the company’s stock worth $170,000 after buying an additional 277 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Arctic Cat by 7.5% in the second quarter. Teachers Advisors Inc. now owns 19,928 shares of the company’s stock worth $339,000 after buying an additional 1,395 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Arctic Cat by 2.3% in the second quarter. Rhumbline Advisers now owns 20,534 shares of the company’s stock worth $349,000 after buying an additional 468 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Arctic Cat by 19.6% in the second quarter. US Bancorp DE now owns 22,388 shares of the company’s stock worth $381,000 after buying an additional 3,673 shares during the last quarter. 99.54% 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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