UPDATE: Feltl and Company Upgrades Arctic Cat to Strong Buy on Positive Outlook
Feltl and Company raised its rating on Arctic Cat (NASDAQ: ACAT) from Buy to Strong Buy as it believes the company's latest guidance may be conservative.
Feltl and Company said, "Although ORV sales missed our estimate and EPS was slightly lower than expected. We are still encouraged with trends in 2Q:F13. We think the snowmobile business is encouraging given the difficult prior-year “comp” and ORV sales have increased nearly 50% in the first half of F2013 and management's guidance implies at least 27% growth in the second half of the year. Overall, we think ACAT is a strong growth company with loyal customers that is expanding sales through new products. We think yesterday's sell-off was overdone. The mid-range of management's earnings guidance implies approximately 57% annual earnings growth, and we think the guidance could prove conservative."
Arctic Cat closed at $37.01 on Thursday.
Latest Ratings for ACAT
|Nov 2016||BMO Capital||Downgrades||Market Perform||Underperform|
|Sep 2016||Jefferies||Initiates Coverage on||Buy|
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