Zacks Investment Research Downgrades ARC Group Worldwide, Inc. (NASDAQ:ARCW) to Sell

ARC Group Worldwide, Inc. (NASDAQ:ARCW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 18th.

A number of other equities research analysts also recently weighed in on ARCW. Imperial Capital reaffirmed an “in-line” rating and issued a $4.50 target price on shares of ARC Group Worldwide in a report on Wednesday, April 12th. ValuEngine raised ARC Group Worldwide from a “sell” rating to a “hold” rating in a report on Friday, June 2nd.

Shares of ARC Group Worldwide (NASDAQ ARCW) traded down 2.08% during mid-day trading on Tuesday, reaching $2.35. The company had a trading volume of 11,197 shares. The firm’s 50 day moving average is $2.83 and its 200-day moving average is $3.65. The stock’s market capitalization is $42.70 million. ARC Group Worldwide has a 12-month low of $2.17 and a 12-month high of $5.95.

ARC Group Worldwide (NASDAQ:ARCW) last issued its earnings results on Monday, May 15th. The technology company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.11. The business had revenue of $25.50 million during the quarter, compared to analyst estimates of $28.83 million. ARC Group Worldwide had a negative net margin of 0.70% and a negative return on equity of 7.31%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. On average, analysts expect that ARC Group Worldwide will post ($0.20) earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in ARCW. First Eagle Investment Management LLC increased its stake in ARC Group Worldwide by 7.0% in the second quarter. First Eagle Investment Management LLC now owns 1,695,576 shares of the technology company’s stock valued at $4,917,000 after buying an additional 111,154 shares during the period. Renaissance Technologies LLC increased its stake in ARC Group Worldwide by 5.5% in the first quarter. Renaissance Technologies LLC now owns 181,320 shares of the technology company’s stock valued at $762,000 after buying an additional 9,506 shares during the period. Finally, Stifel Financial Corp increased its stake in ARC Group Worldwide by 37.9% in the first quarter. Stifel Financial Corp now owns 35,845 shares of the technology company’s stock valued at $151,000 after buying an additional 9,845 shares during the period. 15.75% of the stock is currently owned by institutional investors.

About ARC Group Worldwide

ARC Group Worldwide, Inc is a manufacturing company. The Company has three segments: Precision Components Group, 3DMT Group, and Flanges and Fittings Group. It provides a set of manufacturing solutions, from design and prototyping through production. Through the Company’s product offering, it provides its customers with a prototyping and production solution for both precision metal and plastic fabrication.

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