DA Davidson Downgrades Zoltek Companies, Inc. (ZOLT) to Neutral; Good Qtr, But 2H Moderating
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Rating Summary:
2 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Analyst, Avinash Kant, said, "ZOLT reported Q3:FY12 GAAP EPS of $0.16 on revenues of $48.1 million (+2% from Q2:FY12 and +25% from Q3:FY11). Earnings beat consensus and our estimate of $0.13 and $0.11, respectively...Backlog at key customer Vestas has been strong but CY12 bookings have been lackluster...Comments from Hexcel (NYSE: HXL) point to some moderation in the second half...While long-term drivers for the wind business are intact, we believe the next few quarters could see some moderation."
FY12 EPS estimate raised from $0.65 to $0.72, FY13 lowered from$0.69 to $0.63.
For an analyst ratings summary and ratings history on Zoltek Companies, Inc. click here. For more ratings news on Zoltek Companies, Inc. click here.
Shares of Zoltek Companies, Inc. closed at $8.61 yesterday, with a 52 week range of $5.60-$15.01.
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D.A. Davidson, EarningsComments
downgrade of Zoltek
Really? Zoltek not only beats expectations, but has more orders from Vestas than it can fill in a year and you downgrade it on the very day that all this good news hits! Were you waiting and hoping that it would miss so you'd look good? You cite "lackluster" bookings when the opposite is not only true, but documented. Yeaah, I'm a little upset ( I do have an interest in the company). How is it that you adjust the target price from $16 to $10 in one day - the very day that the stock should be spiking up? Were you incredibly stupid to set $16 as a target? How nice it must be to be thought of as smart when you can suddenly change your mind abd say that your previous predictions are innacurate by 500% . I mean, as of yesterday, you had a share price of $8.62 and a target of $16. Today, the news is all good, and you say that your new target is $10! That is at least a 500% difference of outlook. Are you just saving the skin of those 6 million short sellers out there who stood to lose a bundle today on the good news? In my humble opinion, there are two possibilities (though I am always open to more). Either the short sellers have you in their pocket, or you are incredibly bad at your job. Please enlighten me as to which it is.
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Downgrade of Zoltek
Donald J. Betz Sr. on Aug 4, 2012 01:33 AMMark as Spam | Reply to this comment
The earnings were outstanding. So why the downgrade. I beleve the above gentleman was correct when he wanted to know how many short sellers were in his pocket.