Artesian Resources (ARTNA) Upgraded to “Hold” by Zacks Investment Research

Artesian Resources (NASDAQ:ARTNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, January 9th.

According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “

Separately, BidaskClub lowered Artesian Resources from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th.

Artesian Resources (ARTNA) traded down $0.47 during trading on Tuesday, hitting $38.40. The company’s stock had a trading volume of 18,200 shares, compared to its average volume of 27,411. Artesian Resources has a 52-week low of $29.36 and a 52-week high of $43.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64. The company has a market cap of $352.04, a PE ratio of 27.23 and a beta of 0.10.

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

In other Artesian Resources news, insider Dian C. Taylor sold 8,798 shares of Artesian Resources stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total value of $372,683.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William C. Wyer sold 6,750 shares of Artesian Resources stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $42.00, for a total value of $283,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,548 shares of company stock valued at $734,283. Corporate insiders own 20.59% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ARTNA. Vanguard Group Inc. increased its stake in shares of Artesian Resources by 1.0% during the second quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after buying an additional 3,541 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Artesian Resources by 9.5% during the third quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after purchasing an additional 20,661 shares in the last quarter. State Street Corp boosted its position in shares of Artesian Resources by 5.0% during the second quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares in the last quarter. WFG Advisors LP boosted its position in shares of Artesian Resources by 9.4% during the second quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Artesian Resources by 8.4% during the second quarter. Northern Trust Corp now owns 114,661 shares of the utilities provider’s stock valued at $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 and hedge funds.

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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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