Arotech Corporation (ARTX) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Arotech Corporation (NASDAQ:ARTX) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $4.25 target price on the aerospace company’s stock.
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 reissued a buy rating and issued a $4.50 price target on shares of Arotech Corporation in a research note on Sunday, August 13th.
Shares of Arotech Corporation (NASDAQ ARTX) opened at $4.00 on Wednesday. Arotech Corporation has a one year low of $2.80 and a one year high of $5.00. The stock has a market cap of $101.62, a price-to-earnings ratio of 42.78 and a beta of 1.33. The company has a quick ratio of 1.66, a current ratio of 2.19 and a debt-to-equity ratio of 0.15.
Arotech Corporation (NASDAQ:ARTX) last released its quarterly earnings results 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). Arotech Corporation had a negative net margin of 2.87% and a positive return on equity of 3.28%. The company had revenue of $25.93 million during the quarter, compared to analyst estimates of $24.48 million. equities analysts expect that Arotech Corporation will post 0.18 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Zacks Investment Management acquired a new stake in Arotech Corporation during the 2nd quarter worth $149,000. Goldman Sachs Group Inc. boosted its stake in Arotech Corporation by 73.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,311 shares of the aerospace company’s stock worth $143,000 after purchasing an additional 20,461 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Arotech Corporation by 105.1% during the 2nd quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock worth $590,000 after purchasing an additional 85,100 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in Arotech Corporation by 35.9% during the 2nd quarter. Essex Investment Management Co. LLC now owns 436,266 shares of the aerospace company’s stock worth $1,549,000 after purchasing an additional 115,254 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Arotech Corporation by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock worth $3,686,000 after purchasing an additional 19,082 shares during the last quarter. 21.56% of the stock is currently owned by institutional investors.
About Arotech Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arotech Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arotech Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.