ASV (ASV) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of ASV (NASDAQ:ASV) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “ASV Holdings Inc. is a designer and manufacturer of compact construction equipment which consists of loader and skid steer loader equipment. It operates primarily in North America, Australia and New Zealand. ASV Holdings Inc. is based in Grand Rapids, United States. “

Several other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of ASV from a hold rating to a sell rating in a research note on Wednesday, September 19th. Barrington Research set a $9.00 price objective on shares of ASV and gave the stock a buy rating in a research note on Tuesday, October 23rd. Roth Capital set a $9.00 price objective on shares of ASV and gave the stock a buy rating in a research note on Saturday, August 11th. Finally, Seaport Global Securities set a $9.00 price objective on shares of ASV and gave the stock a buy rating in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $7.56.

ASV traded down $0.43 during midday trading on Wednesday, hitting $3.27. 26,890 shares of the company traded hands, compared to its average volume of 33,634. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.80 and a current ratio of 2.21. The stock has a market capitalization of $34.92 million, a P/E ratio of 14.86 and a beta of 1.60. ASV has a 52 week low of $2.93 and a 52 week high of $10.80.

ASV (NASDAQ:ASV) last posted its earnings results on Thursday, November 1st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $32.78 million for the quarter, compared to analysts’ expectations of $34.16 million. ASV had a negative net margin of 0.15% and a positive return on equity of 2.30%. Research analysts forecast that ASV will post 0.15 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. First Wilshire Securities Management Inc. lifted its stake in shares of ASV by 10.7% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 576,519 shares of the company’s stock worth $3,338,000 after purchasing an additional 55,709 shares during the period. Royce & Associates LP lifted its stake in shares of ASV by 81.4% in the 2nd quarter. Royce & Associates LP now owns 273,590 shares of the company’s stock worth $1,584,000 after purchasing an additional 122,800 shares during the period. Finally, Shufro Rose & Co. LLC lifted its stake in shares of ASV by 51.7% in the 2nd quarter. Shufro Rose & Co. LLC now owns 132,000 shares of the company’s stock worth $764,000 after purchasing an additional 45,000 shares during the period. Hedge funds and other institutional investors own 47.20% of the company’s stock.

ASV Company Profile

ASV Holdings, Inc designs and manufactures compact construction equipment in North America, Australia, and New Zealand. It offers compact track loader and skid steer loader equipment under the ASV and Terex brands. The company also offers private label original equipment manufacturing services; and pre-and post-sale dealer support, after-sale technical support, and replacement parts.

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