UPDATE: Stifel Downgrades Stericycle (SRCL) to Hold
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Rating Summary:
8 Buy, 11 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Stifel downgraded Stericycle (NASDAQ: SRCL) from Buy to Hold and removed its price target (prior $145.00). The change follows disappointing Q1 results and guidance.
"The unthinkable happened, SRCL missed 1Q16 by $0.06 and lowered guidance for earnings and FCF. It would now appear that 2016 is a transition year," said analyst Michael E. Hoffman.
"Between the integration of Shred-It, the implementation of the McKinsey Study and secular challenges in industrial hazardous waste and costs in the UK and Brazil, SRCL may have lowered the bar enough to not miss but it is not clear it has gained true control over forecasting and therefore predicting the business while all these pieces are in play. The one consolation, cash conversion in 1Q was good and that gives hope once the FY16 challenges are addressed," added the analyst.
For an analyst ratings summary and ratings history on Stericycle click here. For more ratings news on Stericycle click here.
Shares of Stericycle closed at $121.74 yesterday.
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