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

Zacks Investment Research upgraded shares of Arotech (NASDAQ:ARTX) from a hold rating to a buy rating in a report issued on Friday. They currently have $3.50 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, ValuEngine upgraded Arotech from a sell rating to a hold rating in a report on Tuesday, September 18th.

Shares of ARTX traded up $0.15 during trading hours on Friday, hitting $3.21. 128,508 shares of the stock were exchanged, compared to its average volume of 84,938. 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. The stock has a market capitalization of $76.54 million, a price-to-earnings ratio of 20.06 and a beta of 1.50.

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

In related news, Director Kenneth W. Cappell bought 10,000 shares of the company’s stock in a transaction on Monday, November 12th. The stock was bought at an average cost of $2.80 per share, for a total transaction of $28,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Jon B. Kutler bought 15,000 shares of the company’s stock in a transaction on Friday, November 9th. The stock was bought at an average price of $2.86 per share, with a total value of $42,900.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 71,000 shares of company stock valued at $191,360. 9.40% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of ARTX. Millennium Management LLC grew its holdings in Arotech by 1,124.3% in the 2nd quarter. Millennium Management LLC now owns 469,163 shares of the aerospace company’s stock valued at $1,759,000 after buying an additional 430,842 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Arotech by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,727,014 shares of the aerospace company’s stock valued at $6,476,000 after buying an additional 188,019 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in Arotech in the 2nd quarter valued at $400,000. First Wilshire Securities Management Inc. purchased a new stake in Arotech in the 3rd quarter valued at $279,000. Finally, Ancora Advisors LLC grew its holdings in Arotech by 25.2% in the 3rd quarter. Ancora Advisors LLC now owns 323,035 shares of the aerospace company’s stock valued at $1,098,000 after buying an additional 65,101 shares in the last quarter. Institutional investors own 28.56% of the company’s stock.

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.

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