Arotech (ARTX) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Arotech (NASDAQ:ARTX) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

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. “

ARTX has been the topic of a number of other reports. ValuEngine upgraded Arotech from a sell rating to a hold rating in a report on Tuesday, September 18th. TheStreet cut Arotech from a b- rating to a c rating in a report on Tuesday, July 3rd.

Shares of Arotech stock opened at $3.40 on Thursday. The company has a market cap of $90.05 million, a PE ratio of 15.45 and a beta of 1.72. Arotech has a 1-year low of $2.70 and a 1-year high of $4.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.67 and a current ratio of 2.08.

Arotech (NASDAQ:ARTX) last issued its earnings results on Tuesday, August 7th. The aerospace company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $21.88 million for the quarter, compared to analysts’ expectations of $23.75 million. Arotech had a return on equity of 7.89% and a net margin of 5.65%. analysts expect that Arotech will post 0.14 earnings per share for the current fiscal year.

In other Arotech news, Chairman Jon B. Kutler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were purchased at an average cost of $3.20 per share, for a total transaction of $64,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth W. Cappell acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average price of $3.28 per share, for a total transaction of $32,800.00. The disclosure for this purchase can be found here. Insiders purchased 35,289 shares of company stock worth $113,867 over the last quarter. 9.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARTX. BNP Paribas Arbitrage SA acquired a new position in Arotech in the second quarter valued at approximately $112,000. Spark Investment Management LLC lifted its holdings in Arotech by 155.0% in the first quarter. Spark Investment Management LLC now owns 38,500 shares of the aerospace company’s stock valued at $117,000 after acquiring an additional 23,400 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Arotech in the second quarter valued at approximately $126,000. Algert Global LLC lifted its holdings in Arotech by 800.9% in the second quarter. Algert Global LLC now owns 99,553 shares of the aerospace company’s stock valued at $373,000 after acquiring an additional 88,503 shares during the last quarter. Finally, B. Riley Financial Inc. acquired a new position in Arotech in the second quarter valued at approximately $400,000. Hedge funds and other institutional investors own 27.44% 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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