ARC Group Worldwide Inc. (NASDAQ:ARCW) had its target price hoisted by analysts at Imperial Capital from $3.00 to $4.00 in a report issued on Tuesday, StockTargetPrices.com reports. The brokerage currently has an “in-line” rating on the stock. Imperial Capital’s price objective points to a potential upside of 10.45% from the company’s current price.
Separately, Brean Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of ARC Group Worldwide in a research report on Monday, September 12th.
Shares of ARC Group Worldwide (NASDAQ:ARCW) opened at 3.6217 on Tuesday. The company’s 50-day moving average is $2.73 and its 200 day moving average is $2.47. ARC Group Worldwide has a 1-year low of $1.05 and a 1-year high of $3.73. The stock’s market cap is $68.07 million.
ARC Group Worldwide (NASDAQ:ARCW) last announced its quarterly earnings data on Friday, September 9th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.04. ARC Group Worldwide had a negative net margin of 2.23% and a negative return on equity of 4.41%. The company had revenue of $27.80 million for the quarter. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts anticipate that ARC Group Worldwide will post $0.05 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake 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 stake 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 stake 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. 9.93% of the stock is owned by institutional investors.
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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