Canaccord Genuity Cuts Price Target on ARC Group Worldwide (ARCW) Following 6c EPS Miss

Canaccord Genuity reiterated a Buy rating on ARC Group Worldwide (NASDAQ: ARCW), and cut the price target to $6.00 (from $8.00), following the company's 4Q15 earnings report. Reported revenues and EPS results for the quarter of $28.8M and ($0.04) respectively compared consensus expectations for the period of $28.6M/$0.02.

Analyst Bobby Burleson commented, "While we are lowering our estimates on macro related push-outs for the core business, we are encouraged by strength for 3DMT and metal AM in particular. Our price target is reduced to $6 from $8 as multiples are likely to reflect macro uncertainty for the remainder of 2015, but we see potential for the shares to recovery from present levels given management is delivering on its metal 3D printing strategy"

For an analyst ratings summary and ratings history on ARC Group Worldwide click here. For more ratings news on ARC Group Worldwide click here.

Shares of ARC Group Worldwide closed at $3.24 yesterday.

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