Arctic Cat Inc. (NASDAQ:ACAT) – Equities researchers at KeyCorp decreased their FY2017 earnings estimates for Arctic Cat in a report released on Monday. KeyCorp analyst S. Hamann now expects that the firm will earn ($1.45) per share for the year, down from their prior forecast of ($1.37). KeyCorp currently has a “Buy” rating and a $22.00 target price on the stock. KeyCorp also issued estimates for Arctic Cat’s FY2018 earnings at ($0.10) EPS.
Arctic Cat (NASDAQ:ACAT) last posted its quarterly earnings results on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $1.34. Arctic Cat had a negative return on equity of 25.00% and a negative net margin of 7.66%. The company earned $164.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was down 22.0% on a year-over-year basis.
Several other brokerages also recently commented on ACAT. Jefferies Group LLC downgraded shares of Arctic Cat from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Arctic Cat from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 4th. Robert W. Baird downgraded shares of Arctic Cat from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Monday, January 9th. BMO Capital Markets downgraded shares of Arctic Cat from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $11.00 to $9.00 in a report on Thursday, November 10th. Finally, Wells Fargo & Company downgraded shares of Arctic Cat from a “market perform” rating to an “underperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $15.00.
Arctic Cat (NASDAQ:ACAT) traded up 0.75% on Wednesday, hitting $18.89. The stock had a trading volume of 543,876 shares. The company has a 50 day moving average of $15.30 and a 200 day moving average of $15.32. The company’s market capitalization is $246.46 million. Arctic Cat has a 12-month low of $8.90 and a 12-month high of $19.82.
A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System boosted its stake in shares of Arctic Cat by 32.8% in the second quarter. California Public Employees Retirement System now owns 59,900 shares of the company’s stock worth $1,018,000 after buying an additional 14,800 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Arctic Cat by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 705,015 shares of the company’s stock worth $11,985,000 after buying an additional 58,682 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Arctic Cat by 3.0% in the second quarter. Principal Financial Group Inc. now owns 91,852 shares of the company’s stock worth $1,561,000 after buying an additional 2,649 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arctic Cat by 3.5% in the second quarter. Vanguard Group Inc. now owns 612,010 shares of the company’s stock worth $10,404,000 after buying an additional 20,619 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Arctic Cat during the second quarter worth approximately $513,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.
About Arctic Cat
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.