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 research note issued to investors on Friday. The brokerage presently has a $3.50 target price on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.03% from the stock’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 upgraded Arotech from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th.

Shares of NASDAQ ARTX traded up $0.15 during mid-day trading on Friday, reaching $3.21. 128,546 shares of the company were exchanged, compared to its average volume of 84,943. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.07 and a quick ratio of 1.68. The stock has a market capitalization of $76.54 million, a P/E ratio of 20.06 and a beta of 1.50. Arotech has a 1 year low of $2.37 and a 1 year high of $4.15.

Arotech (NASDAQ:ARTX) last issued its quarterly earnings data on Tuesday, November 6th. The aerospace company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $23.84 million during the quarter, compared to analysts’ expectations of $23.50 million. Arotech had a return on equity of 7.38% and a net margin of 5.72%. During the same period in the prior year, the business posted $0.06 EPS. As a group, equities research analysts anticipate that Arotech will post 0.15 earnings per share for the current fiscal year.

In other Arotech news, Chairman Jon B. Kutler purchased 15,000 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was bought at an average cost of $2.86 per share, for a total transaction of $42,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth W. Cappell purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was acquired at an average price of $2.80 per share, with a total value of $28,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 71,000 shares of company stock valued at $191,360. 9.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ARTX. Marshall Wace LLP purchased a new stake in Arotech in the third quarter valued at about $55,000. Alambic Investment Management L.P. acquired a new position in shares of Arotech in the second quarter valued at about $126,000. First Wilshire Securities Management Inc. acquired a new position in shares of Arotech in the third quarter valued at about $279,000. B. Riley Financial Inc. acquired a new position in shares of Arotech in the second quarter valued at about $400,000. Finally, Ancora Advisors LLC increased its holdings in shares of Arotech by 25.2% in the third quarter. Ancora Advisors LLC now owns 323,035 shares of the aerospace company’s stock valued at $1,098,000 after purchasing an additional 65,101 shares during the period. Institutional investors own 28.56% 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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