According to Zacks, “ARC Group Worldwide, Inc. is a diversified manufacturing holding company with operations in Colorado, Florida, Pennsylvania, Texas, Minnesota, China and Hungary. It provides wireless network component and wireless network solutions. The Company designs and develops hardware, including antennas, radios, and related accessories, used in broadband and other wireless networks. It supplies its products to public and private carriers, wireless infrastructure providers, wireless equipment distributors, value added resellers and other original equipment manufacturers. ARC Group Worldwide, Inc., formerly known as ARC Wireless Solutions Inc., is based in Denver, Colorado. “
Several other brokerages have also issued reports on ARCW. Imperial Capital lifted their price target on ARC Group Worldwide from $3.00 to $4.00 and gave the stock an in-line rating in a research note on Tuesday, September 27th. Brean Capital reaffirmed a buy rating and set a $7.00 price target on shares of ARC Group Worldwide in a research note on Monday, September 12th.
Shares of ARC Group Worldwide (NASDAQ:ARCW) remained flat at $3.75 during midday trading on Friday. 4,349 shares of the stock traded hands. ARC Group Worldwide has a 12-month low of $1.05 and a 12-month high of $4.88. The firm’s 50 day moving average is $3.27 and its 200 day moving average is $2.59. The company’s market capitalization is $70.48 million.
ARC Group Worldwide (NASDAQ:ARCW) last issued its quarterly earnings results on Friday, September 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. ARC Group Worldwide had a negative return on equity of 4.41% and a negative net margin of 2.23%. The firm had revenue of $27.80 million for the quarter. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that ARC Group Worldwide will post $0.02 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in ARC Group Worldwide by 34.1% in the first quarter. Renaissance Technologies LLC now owns 80,600 shares of the company’s stock valued at $202,000 after buying an additional 20,500 shares in the last quarter. First Eagle Investment Management LLC increased its position in ARC Group Worldwide by 17.0% in the second quarter. First Eagle Investment Management LLC now owns 1,340,736 shares of the company’s stock valued at $3,057,000 after buying an additional 195,160 shares in the last quarter. Finally, Coe Capital Management LLC increased its position in ARC Group Worldwide by 25.8% in the second quarter. Coe Capital Management LLC now owns 93,521 shares of the company’s stock valued at $215,000 after buying an additional 19,197 shares in the last quarter. Hedge funds and other institutional investors own 9.93% of the company’s stock.
About ARC Group Worldwide
ARC Group Worldwide, Inc is a manufacturing company. The Company operates through four segments: Precision Components Group, 3DMT Group, Flanges and Fittings Group, and Wireless Group. The Precision Components Group companies provide fabricated metal components using processes consisting of metal injection molding, precision metal stamping and hermetic sealing.
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