Jefferies Cuts Price Target on VCA Antech (WOOF) Following 3Q Miss
- S&P little changed as energy weighs but financials edge up
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- Fed's Yellen says 'makes sense' to gradually raise interest rates
- UPDATE: Fed Beige Book: Wages gain modestly in most areas amid tight job market
- Mallinckrodt (MNK) Announces FTC Settlement
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies maintained a Hold rating on VCA Antech (NASDAQ: WOOF), and cut the price target to $60.00 (from $69.00), following the company's 3Q earnings report. WOOF reported below-consensus results with EPS of $0.79 coming in 2c short, and revenues of $657MM at $12MM below expectations. However, Jefferies continues to believe that the company's operating fundamentals remain strong.
Analyst Brian Tanquilut commented, "Our Hold rating on WOOF has been predicated on our view that the stock's valuation was rich and that investor expectations for both 2015 and 2016 have been elevated. That said, we believe company fundamentals remain strong and that volume trends are actually robust (SSS of ~+5.5% in both lab and hospital segments) and should remain healthy (both price & volume-driven) as long as the US consumer market holds up."
Shares of VCA Antech closed at $63.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Downgrades Himax Technologies (HIMX) to Neutral
- UBS Cuts Price Target on Qualcomm (QCOM) Following FTC Complaint
- Check Point Software Technology (CHKP): Raising PT to $118 - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!