ARC Group Worldwide, Inc. (ARCW) Downgraded by Zacks Investment Research
ARC Group Worldwide, Inc. (NASDAQ:ARCW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Several other research firms have also issued reports on ARCW. Imperial Capital restated an “in-line” rating and issued a $4.50 target price on shares of ARC Group Worldwide in a report on Wednesday, April 12th. ValuEngine upgraded shares of ARC Group Worldwide from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.
ARC Group Worldwide (ARCW) traded down 1.64% during mid-day trading on Tuesday, hitting $3.00. 100,511 shares of the company were exchanged. ARC Group Worldwide has a 12-month low of $2.17 and a 12-month high of $5.95. The company’s market capitalization is $54.51 million. The company’s 50-day moving average is $3.20 and its 200 day moving average is $3.84.
ARC Group Worldwide (NASDAQ:ARCW) last released its earnings results on Monday, May 15th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.11. The firm had revenue of $25.50 million during the quarter, compared to analyst estimates of $28.83 million. ARC Group Worldwide had a negative net margin of 0.70% and a negative return on equity of 7.31%. ARC Group Worldwide’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. Analysts expect that ARC Group Worldwide will post ($0.20) EPS for the current year.
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An institutional investor recently raised its position in ARC Group Worldwide stock. Renaissance Technologies LLC boosted its stake in shares of ARC Group Worldwide, Inc. (NASDAQ:ARCW) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,320 shares of the technology company’s stock after buying an additional 9,506 shares during the period. Renaissance Technologies LLC’s holdings in ARC Group Worldwide were worth $762,000 at the end of the most recent reporting period. 15.74% of the stock is owned by institutional investors.
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.
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