ARC Group Worldwide Inc. (NASDAQ:ARCW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “
ARCW has been the subject of several other reports. Imperial Capital boosted their target price on ARC Group Worldwide from $3.00 to $4.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 27th. Brean Capital restated a “buy” rating and set a $7.00 target price on shares of ARC Group Worldwide in a research report on Monday, September 12th.
ARC Group Worldwide (NASDAQ:ARCW) opened at 3.80 on Friday. ARC Group Worldwide has a 12 month low of $1.05 and a 12 month high of $4.88. The company’s market capitalization is $71.42 million. The stock’s 50 day moving average price is $3.31 and its 200-day moving average price is $2.60.
ARC Group Worldwide (NASDAQ:ARCW) last released its quarterly earnings data on Friday, September 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. ARC Group Worldwide had a negative net margin of 2.23% and a negative return on equity of 4.41%. The company had revenue of $27.80 million for the quarter. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that ARC Group Worldwide will post $0.02 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in ARC Group Worldwide by 34.1% in the first quarter. Renaissance Technologies LLC now owns 80,600 shares of the company’s stock worth $202,000 after buying an additional 20,500 shares during the last quarter. Coe Capital Management LLC boosted its position in ARC Group Worldwide by 25.8% in the second quarter. Coe Capital Management LLC now owns 93,521 shares of the company’s stock worth $215,000 after buying an additional 19,197 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in ARC Group Worldwide by 17.0% in the second quarter. First Eagle Investment Management LLC now owns 1,340,736 shares of the company’s stock worth $3,057,000 after buying an additional 195,160 shares during the last quarter. Institutional investors and hedge funds own 9.93% of the company’s stock.
ARC Group Worldwide Company Profile
ARC Group Worldwide, Inc is a manufacturing company. The Company operates through four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. The Precision Components Group companies provide fabricated metal components using processes consisting of metal injection molding, precision metal stamping and hermetic sealing.