ASV (ASV) Rating Increased to Hold at Zacks Investment Research

ASV (NASDAQ:ASV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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 brokerages have also issued reports on ASV. Roth Capital set a $9.00 price target on shares of ASV and gave the stock a “buy” rating in a research note on Saturday, August 11th. Seaport Global Securities set a $9.00 price objective on shares of ASV and gave the company a “buy” rating in a research note on Monday, August 13th. Barrington Research set a $9.00 price objective on shares of ASV and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, ValuEngine upgraded shares of ASV from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $7.56.

Shares of NASDAQ:ASV traded down $0.18 on Wednesday, hitting $2.90. The company had a trading volume of 12,966 shares, compared to its average volume of 15,840. ASV has a 1 year low of $2.75 and a 1 year high of $10.80. The company has a current ratio of 2.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.41. The stock has a market cap of $29.11 million, a price-to-earnings ratio of 13.18 and a beta of 1.56.

ASV (NASDAQ:ASV) last posted its earnings results on Thursday, November 1st. The company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. ASV had a negative net margin of 0.15% and a positive return on equity of 2.30%. The firm had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $34.16 million. Equities analysts forecast that ASV will post 0.12 EPS for the current fiscal year.

A hedge fund recently raised its stake in ASV stock. Royce & Associates LP raised its position in shares of ASV Holdings Inc (NASDAQ:ASV) by 81.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,590 shares of the company’s stock after purchasing an additional 122,800 shares during the quarter. Royce & Associates LP owned 2.79% of ASV worth $1,584,000 at the end of the most recent quarter. 44.64% of the stock is owned by institutional investors and hedge funds.

About ASV

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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