Artesian Resources (ARTNA) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Artesian Resources (NASDAQ:ARTNA) from a sell rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “

Separately, BidaskClub downgraded shares of Artesian Resources from a hold rating to a sell rating in a research report on Thursday, December 7th.

Shares of Artesian Resources (ARTNA) traded down $1.05 on Tuesday, hitting $38.19. 12,953 shares of the stock traded hands, compared to its average volume of 30,057. The firm has a market cap of $354.65, a PE ratio of 27.09 and a beta of 0.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64. Artesian Resources has a 12 month low of $29.36 and a 12 month high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The business had revenue of $22.36 million during the quarter. Artesian Resources had a return on equity of 9.18% and a net margin of 15.96%. equities research analysts forecast that Artesian Resources will post 1.42 earnings per share for the current fiscal year.

In other Artesian Resources news, Director Kenneth R. Biederman sold 2,000 shares of Artesian Resources stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total value of $78,100.00. Following the completion of the sale, the director now directly owns 21,875 shares in the company, valued at $854,218.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dian C. Taylor sold 8,798 shares of Artesian Resources stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.36, for a total transaction of $372,683.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,548 shares of company stock worth $734,283. 20.59% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTNA. Dimensional Fund Advisors LP lifted its stake in Artesian Resources by 9.5% in the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after acquiring an additional 20,661 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Artesian Resources in the third quarter valued at approximately $538,000. WFG Advisors LP raised its position in shares of Artesian Resources by 9.4% in the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares during the period. Numeric Investors LLC bought a new position in shares of Artesian Resources in the second quarter valued at approximately $336,000. Finally, Northern Trust Corp raised its position in shares of Artesian Resources by 8.4% in the second quarter. Northern Trust Corp now owns 114,661 shares of the utilities provider’s stock valued at $4,316,000 after purchasing an additional 8,857 shares during the period. Hedge funds and other institutional investors own 38.77% of the company’s stock.

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About Artesian Resources

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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