Arotech (ARTX) Raised to “Buy” at Zacks Investment Research

Arotech (NASDAQ:ARTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $3.50 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.03% from the company’s current price.

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, ValuEngine downgraded Arotech from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.

Shares of NASDAQ ARTX traded up $0.15 during trading hours on Friday, hitting $3.21. 128,546 shares of the company traded hands, compared to its average volume of 84,943. The company has a market cap of $76.54 million, a P/E ratio of 20.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.68 and a current ratio of 2.07. Arotech has a 12 month low of $2.37 and a 12 month high of $4.15.

Arotech (NASDAQ:ARTX) last released its earnings results on Tuesday, November 6th. The aerospace company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The firm had revenue of $23.84 million for the quarter, compared to the consensus estimate of $23.50 million. Arotech had a return on equity of 7.38% and a net margin of 5.72%. During the same quarter in the previous year, the company posted $0.06 EPS. As a group, equities analysts predict that Arotech will post 0.15 EPS for the current year.

In other Arotech news, Director Kenneth W. Cappell acquired 10,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were bought at an average price of $2.80 per share, with a total value of $28,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jon B. Kutler acquired 15,000 shares of the business’s stock in a transaction on Friday, November 9th. The stock was acquired at an average cost of $2.86 per share, for a total transaction of $42,900.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 71,000 shares of company stock worth $191,360. Corporate insiders own 9.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in Arotech in the 3rd quarter valued at $55,000. Alambic Investment Management L.P. bought a new position in Arotech in the 2nd quarter valued at $126,000. B. Riley Financial Inc. grew its position in shares of Arotech by 44.4% during the 3rd quarter. B. Riley Financial Inc. now owns 154,067 shares of the aerospace company’s stock worth $524,000 after buying an additional 47,350 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Arotech by 25.2% during the 3rd quarter. Ancora Advisors LLC now owns 323,035 shares of the aerospace company’s stock worth $1,098,000 after buying an additional 65,101 shares in the last quarter. Finally, First Wilshire Securities Management Inc. bought a new position in shares of Arotech during the 3rd quarter worth $279,000. 28.56% of the stock is currently owned by institutional investors.

Arotech Company Profile

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

Further Reading: Ex-Dividend

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