In a report released yesterday, Mike Crawford from B.Riley FBR reiterated a Buy rating on Arotech Corp (ARTX), with a price target of $4.50. The company’s shares closed yesterday at $2.15.
Crawford wrote:
“Buy-rated Arotech (ARTX, $4.50 PT) reported refreshing 2Q19 results after market close on 8/7 and conducted its earnings conference conf call on 8/8 at 9:00am ET. The company surpassed our sole-consensus projections across the board, including $23.3M revenue, $1.8M EBITDA and $0.03 pro forma EPS, vs. our modeled $21.6M, $954k, and $0.01, respectively. Arotech also maintained FY19 $95M-$105M revenue guidance while narrowing EBITDA guidance from $7.0M-$8.0M to $7.0M-$7.5M EBITDA, to go with $0.13-$0.15 pro forma EPS.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 5.7% and a 53.3% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Ducommun Inc.
Arotech Corp has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
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The company has a one-year high of $3.66 and a one-year low of $1.61. Currently, Arotech Corp has an average volume of 113.4K.
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.
