Zacks Investment Research Downgrades Arctic Cat Inc. (ACAT) to Strong Sell

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

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. ”

Other equities research analysts also recently issued research reports about the stock. KeyCorp reaffirmed a buy rating and set a $22.00 price target on shares of Arctic Cat in a research note on Thursday, October 6th. BMO Capital Markets reaffirmed a hold rating and set a $18.50 price target on shares of Arctic Cat in a research note on Friday, January 27th. Jefferies Group LLC downgraded shares of Arctic Cat from a buy rating to a hold rating and set a $18.50 target price on the stock. in a research note on Thursday, January 26th. Robert W. Baird downgraded shares of Arctic Cat from an outperform rating to a neutral rating and set a $15.00 target price on the stock. in a research note on Monday, January 9th. Finally, Wells Fargo & Company downgraded shares of Arctic Cat from a market perform rating to an underperform rating in a research note on Wednesday, January 25th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Arctic Cat currently has a consensus rating of Hold and an average price target of $16.71.

Analyst Recommendations for Arctic Cat (NASDAQ:ACAT)

Shares of Arctic Cat (NASDAQ:ACAT) opened at 18.61 on Tuesday. The stock’s 50 day moving average is $15.88 and its 200-day moving average is $15.39. Arctic Cat has a 52 week low of $12.13 and a 52 week high of $19.82. The company’s market cap is $242.80 million.

Arctic Cat (NASDAQ:ACAT) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $1.34. The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $196.42 million. Arctic Cat had a negative net margin of 7.66% and a negative return on equity of 25.00%. Arctic Cat’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS. On average, equities analysts anticipate that Arctic Cat will post ($1.53) earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC boosted its stake in Arctic Cat by 11.1% in the third quarter. BlackRock Advisors LLC now owns 6,730 shares of the company’s stock worth $104,000 after buying an additional 674 shares in the last quarter. BlackRock Group LTD boosted its stake in Arctic Cat by 7.8% in the third quarter. BlackRock Group LTD now owns 8,818 shares of the company’s stock worth $137,000 after buying an additional 635 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Arctic Cat during the third quarter worth $154,000. KCG Holdings Inc. purchased a new stake in Arctic Cat during the third quarter worth $183,000. Finally, Malaga Cove Capital LLC purchased a new stake in Arctic Cat during the third quarter worth $197,000. Institutional investors own 99.54% of the company’s stock.

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.

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