Artesian Resources Co. (NASDAQ:ARTNA) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Zacks has also given Artesian Resources an industry rank of 209 out of 265 based on the ratings given to related companies.

A number of brokerages have recently commented on ARTNA. Zacks Investment Research cut Artesian Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. BidaskClub cut Artesian Resources from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th.

Shares of Artesian Resources (NASDAQ:ARTNA) opened at $38.40 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64. The company has a market capitalization of $351.64, a PE ratio of 27.23 and a beta of 0.10. Artesian Resources has a 52 week low of $29.36 and a 52 week high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $22.36 million during the quarter. Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. sell-side analysts predict that Artesian Resources will post 1.42 earnings per share for the current year.

In related news, insider Dian C. Taylor sold 8,798 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total transaction of $372,683.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William C. Wyer sold 6,750 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total value of $283,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,548 shares of company stock valued at $734,283. 20.59% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Numeric Investors LLC bought a new position in shares of Artesian Resources during the 2nd quarter worth approximately $336,000. FCA Corp TX grew its stake in shares of Artesian Resources by 5.3% during the 3rd quarter. FCA Corp TX now owns 87,149 shares of the utilities provider’s stock worth $3,294,000 after acquiring an additional 4,375 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Artesian Resources by 35.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,700 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 5,200 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of Artesian Resources by 9.3% during the 2nd quarter. Nationwide Fund Advisors now owns 8,200 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 700 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Artesian Resources by 5.0% during the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock worth $6,819,000 after acquiring an additional 8,679 shares in the last quarter. 38.77% of the stock is owned by institutional investors.

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About Artesian Resources

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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