Jefferies Downgrades Heckmann Corporation (HEK) to Hold

February 21, 2013 6:51 AM EST Send to a Friend
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Price: $3.74 --0%

Rating Summary:
    3 Buy, 4 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 26 | Down: 32 | New: 6
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Jefferies downgraded Heckmann Corporation (NYSE: HEK) from Buy to Hold with a price target of $4.50 (from $5.50).

The firm comments, "Following a weak 4Q12, activity in shales served by HEK looks sluggish into 1H13 and water services pricing is challenged. We are lowering our 2013 estimate and adopting a more conservative valuation posture."

The firm cut Q1 EPS from ($0.02) to ($0.03), FY13 from ($0.15) to ($0.16) and FY14 from $0.18 to $0.09.

For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.

Shares of Heckmann Corporation closed at $3.68 yesterday.




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