Barrington Research Downgrades MWI Veterinary Supply (MWIV) to Market Perform; Valuation Call

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MWIV Hot Sheet

Rating Summary:
2 Buy, 2 Hold, 0 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 22

Barrington Research downgraded MWI Veterinary Supply (NASDAQ: MWIV) from Outperform to Market Perform.

Barrington analyst says, "Based on our earnings estimates for 2012, MWIV currently reflects a P/E multiple of greater than 20x our FY/12 estimate of $3.99. Although the current earnings growth rate is supportive of a premium P/E multiple in the 20s, we are not comfortable that this growth rate is sustainable over the long term and we would expect the multiple to come down over time. As a result, we are lowering our rating based solely on valuation."

For an analyst ratings summary and ratings history on MWI Veterinary Supply click here. For more ratings news on MWI Veterinary Supply click here.

Shares of MWI Veterinary Supply closed at $86.37 yesterday, with a 52 week range of $61.01-$91.38.

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