Trade Report: The Arctic Cat Inc. (ACAT) Upgraded to Hold at Zacks Investment Research

The Arctic Cat Inc. (ACAT) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Arctic Cat Inc. (NASDAQ:ACAT) from a strong sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Arctic Cat, Inc. operates in a single industry segment and designs, engineers , manufactures and markets snowmobiles and all-terrain vehicles under the Arctic Cat brand name, as well as related parts, garments and accessories. The company markets its products through a network of independent dealers located throughout the contiguous United States and Canada, and through distributors representing dealers in Alaska, Europe, the Middle East, Asia and other international markets. “

A number of other brokerages have also issued reports on ACAT. Feltl & Co. lowered shares of Arctic Cat from a hold rating to a sell rating and set a $12.00 target price for the company. in a research note on Friday, July 29th. Wunderlich reissued a sell rating and set a $13.00 target price (up from $10.00) on shares of Arctic Cat in a research note on Tuesday, July 12th. Wells Fargo & Co. reissued a hold rating on shares of Arctic Cat in a research note on Tuesday, September 20th. Jefferies Group initiated coverage on shares of Arctic Cat in a research note on Friday, September 30th. They set a buy rating and a $19.00 target price for the company. Finally, Northcoast Research lowered shares of Arctic Cat from a buy rating to a neutral rating in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $15.67.

Arctic Cat (NASDAQ:ACAT) traded up 0.76% during mid-day trading on Tuesday, reaching $15.90. 32,106 shares of the company’s stock were exchanged. Arctic Cat has a one year low of $8.90 and a one year high of $25.60. The company’s 50-day moving average is $14.66 and its 200 day moving average is $15.76. The firm’s market capitalization is $207.45 million.

Arctic Cat (NASDAQ:ACAT) last issued its earnings results on Friday, July 29th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.45. The company had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $117.81 million. Arctic Cat had a negative net margin of 3.10% and a negative return on equity of 10.63%. The firm’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Equities analysts predict that Arctic Cat will post ($0.92) earnings per share for the current fiscal year.

In other news, Director Andrew S. Duff bought 5,000 shares of Arctic Cat stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $14.89 per share, for a total transaction of $74,450.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its position in Arctic Cat by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,144 shares of the company’s stock valued at $170,000 after buying an additional 277 shares during the period. Rhumbline Advisers increased its position in Arctic Cat by 2.3% in the second quarter. Rhumbline Advisers now owns 20,534 shares of the company’s stock valued at $349,000 after buying an additional 468 shares during the period. Prudential Financial Inc. increased its position in Arctic Cat by 4.1% in the first quarter. Prudential Financial Inc. now owns 30,685 shares of the company’s stock valued at $516,000 after buying an additional 1,200 shares during the period. Teachers Advisors Inc. increased its position in Arctic Cat by 7.5% in the second quarter. Teachers Advisors Inc. now owns 19,928 shares of the company’s stock valued at $339,000 after buying an additional 1,395 shares during the period. Finally, Guggenheim Capital LLC increased its position in Arctic Cat by 3.9% in the second quarter. Guggenheim Capital LLC now owns 53,479 shares of the company’s stock valued at $909,000 after buying an additional 2,002 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Arctic Cat Company Profile

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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