Zacks Investment Research Downgrades Arotech (ARTX) to Sell
Arotech (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
Separately, B. Riley restated a “buy” rating and issued a $4.50 price target on shares of Arotech in a research note on Friday, November 10th.
Arotech (NASDAQ:ARTX) last posted its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The firm had revenue of $25.93 million for the quarter, compared to analysts’ expectations of $24.48 million. Arotech had a negative net margin of 2.87% and a positive return on equity of 3.27%. analysts forecast that Arotech will post 0.14 earnings per share for the current year.
Several large investors have recently modified their holdings of the stock. Zacks Investment Management bought a new stake in shares of Arotech in the second quarter worth $149,000. Vanguard Group Inc. increased its stake in shares of Arotech by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock worth $3,686,000 after buying an additional 19,082 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Arotech by 105.1% in the second quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock worth $590,000 after buying an additional 85,100 shares during the last quarter. Institutional investors and hedge funds own 20.89% of the company’s stock.
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Arotech Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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