Wedbush Downgrades Polypore International (PPO) to Neutral after Disappointing Results
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Price: $39.82 -1.9%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PPO Now!
Wedbush downgraded Polypore International (NYSE: PPO) from Outperform to Neutral with a price target of $38.00 (from $46.00) citing no improvement in the Lithium Separators cost management we expected, and a consumer lithium decline, raising questions on customer capture/retention.
Polypore reported 4Q12 rev/adjusted EPS of $180.2m/$0.43, well below the firm's forecast of $193.0m/$0.54 and consensus at $191.8m/$0.52. "This was disappointing vs. the 4Q12 adjusted EPS guide of low-50 to low 60 cents," the firm notes. "SG&A was $6.1m below our forecast, where cost discipline partially offset the impact of the revenue miss."
The firm cut FY13 EPS from $2.45 to $1.89, versus the consensus of $2.18, and sees FY14 EPS of $2.40, versus the consensus of $2.71.
For an analyst ratings summary and ratings history on Polypore International click here. For more ratings news on Polypore International click here.
Shares of Polypore International closed at $39.95 yesterday, with a 52 week range of $30.39-$47.97.
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Polypore reported 4Q12 rev/adjusted EPS of $180.2m/$0.43, well below the firm's forecast of $193.0m/$0.54 and consensus at $191.8m/$0.52. "This was disappointing vs. the 4Q12 adjusted EPS guide of low-50 to low 60 cents," the firm notes. "SG&A was $6.1m below our forecast, where cost discipline partially offset the impact of the revenue miss."
The firm cut FY13 EPS from $2.45 to $1.89, versus the consensus of $2.18, and sees FY14 EPS of $2.40, versus the consensus of $2.71.
For an analyst ratings summary and ratings history on Polypore International click here. For more ratings news on Polypore International click here.
Shares of Polypore International closed at $39.95 yesterday, with a 52 week range of $30.39-$47.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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