FBR Capital Downgrades GSE Holdings (GSE) to Market Perform after CEO Departure
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Rating Summary:
2 Buy, 6 Hold, 0 Sell
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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FBR Capital downgraded GSE Holdings (NYSE: GSE) from Outperform to Market Perform with a price target of $6.00 (from $11.50), citing: (1) the recent departure of the CEO, (2) the pending search for a replacement, (3) limited company guidance regarding the near-term financial outlook, and (4) uncertain end-market demand.
Analyst Alex Rygiel notes, "However, we do believe the company will continue to make progress with its strategy of focusing on highly engineered, value-added products in new markets, such as mining, fracking, and coal ash, while also expanding capacity in China. Yet, these positive developments may continue to be overshadowed by the economic turmoil in Europe and increased competition for
commodity-based products in North America. We will review our rating upon the
announcement of a new, permanent CEO."
For an analyst ratings summary and ratings history on GSE Holdings click here. For more ratings news on GSE Holdings click here.
Shares of GSE Holdings closed at $5.64 yesterday.
Analyst Alex Rygiel notes, "However, we do believe the company will continue to make progress with its strategy of focusing on highly engineered, value-added products in new markets, such as mining, fracking, and coal ash, while also expanding capacity in China. Yet, these positive developments may continue to be overshadowed by the economic turmoil in Europe and increased competition for
commodity-based products in North America. We will review our rating upon the
announcement of a new, permanent CEO."
For an analyst ratings summary and ratings history on GSE Holdings click here. For more ratings news on GSE Holdings click here.
Shares of GSE Holdings closed at $5.64 yesterday.
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