Artesian Resources (ARTNA) Stock Rating Lowered by BidaskClub

Artesian Resources (NASDAQ:ARTNA) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th.

Shares of Artesian Resources (ARTNA) opened at $38.25 on Thursday. The stock has a market capitalization of $345.49, a P/E ratio of 27.13 and a beta of 0.10. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 0.73. Artesian Resources has a 1 year low of $29.83 and a 1 year high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $22.36 million for the quarter. Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. analysts predict that Artesian Resources will post 1.42 EPS for the current year.

In other Artesian Resources news, Director William C. Wyer sold 6,750 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total value of $283,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dian C. Taylor sold 8,798 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total value of $372,683.28. The disclosure for this sale can be found here. Insiders sold 17,548 shares of company stock worth $734,283 over the last quarter. Company insiders own 20.59% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ARTNA. Dimensional Fund Advisors LP boosted its stake in Artesian Resources by 9.5% in the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock worth $8,997,000 after purchasing an additional 20,661 shares in the last quarter. SG Americas Securities LLC acquired a new position in Artesian Resources in the third quarter worth $538,000. WFG Advisors LP boosted its stake in Artesian Resources by 9.4% in the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock worth $5,421,000 after purchasing an additional 12,399 shares in the last quarter. Numeric Investors LLC acquired a new position in Artesian Resources in the second quarter worth $336,000. Finally, Northern Trust Corp boosted its stake in Artesian Resources by 8.4% in the second quarter. Northern Trust Corp now owns 114,661 shares of the utilities provider’s stock worth $4,316,000 after purchasing an additional 8,857 shares in the last quarter. 38.77% of the stock is currently owned by institutional investors.

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Artesian Resources Company Profile

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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