Arotech (NASDAQ:ARTX) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Arotech (NASDAQ:ARTX) from a strong sell rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued reports about the stock. TheStreet cut shares of Wayside Technology Group from a b- rating to a c rating in a report on Wednesday, May 22nd. ValuEngine raised shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th.

NASDAQ ARTX opened at $1.89 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.81 and a quick ratio of 1.50. The stock’s fifty day moving average price is $2.05. Arotech has a 1 year low of $1.80 and a 1 year high of $4.00. The company has a market capitalization of $50.93 million, a price-to-earnings ratio of 11.81 and a beta of 1.39.

Arotech (NASDAQ:ARTX) last released its quarterly earnings data on Wednesday, May 8th. The aerospace company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). Arotech had a negative net margin of 0.15% and a positive return on equity of 2.60%. The company had revenue of $20.78 million during the quarter, compared to analyst estimates of $24.10 million. As a group, sell-side analysts expect that Arotech will post 0.12 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ARTX. Acadian Asset Management LLC increased its position in Arotech by 31.7% during the 4th quarter. Acadian Asset Management LLC now owns 36,228 shares of the aerospace company’s stock valued at $95,000 after purchasing an additional 8,729 shares during the period. Van ECK Associates Corp increased its position in Arotech by 49.4% during the 4th quarter. Van ECK Associates Corp now owns 13,153 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 4,352 shares during the period. Dimensional Fund Advisors LP increased its position in Arotech by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,952,736 shares of the aerospace company’s stock valued at $5,116,000 after purchasing an additional 86,679 shares during the period. Virtu Financial LLC acquired a new stake in Arotech during the 1st quarter valued at approximately $63,000. Finally, Buckingham Asset Management LLC acquired a new stake in Arotech during the 1st quarter valued at approximately $102,000. Institutional investors and hedge funds own 32.81% of the company’s stock.

About Arotech

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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