B.Riley FBR analyst Mike Crawford maintained a Buy rating on Arotech Corp (ARTX) today and set a price target of $4.50. The company’s shares closed yesterday at $1.80, close to its 52-week low of $1.61.
Crawford commented:
“We believe Buy-rated Arotech (ARTX, $4.50 PT) will report 2Q19 earnings the week of August 5. We comprise sole consensus and model $21.6M revenue, $954k EBITDA, and $0.01 pro forma EPS for the period, all comparisons down slightly Y/Y , but with a rebound and accompanying Q/Q and Y/Y growth expected to occur in the current 3Q19 period. Essentially, we see 2Q as a continuation of the slow start to the year we saw in 1Q as ARTX weathers a lull in battery orders and awaits ramp of several programs that could drive growth in the second half of the year. In this regard, we were pleased to see in May the first three Cyber Mission Systems task orders issued on ID/IQ, where ARTX’s UEC Electronics subsidiary competes against four others for awards.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 6.8% and a 55.6% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arotech Corp with a $4.50 average price target.
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The company has a one-year high of $4 and a one-year low of $1.61. Currently, Arotech Corp has an average volume of 98.08K.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARTX in relation to earlier this year.
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Arotech Corp. is a defense and security company. The company operates through two divisions: Training & Simulation Division and Power Systems Division.
