DA Davidson Cuts Price Target on Zoltek Companies (ZOLT, 2H Typically Stronger But Concerns Remain Present

DA Davidson is reiterating its Neutral rating on shares of Zoltek Companies, Inc. (NASDAQ: ZOLT) as it released mixed results for Q2.

The company reported a loss of $0.05 for EPS in Q2 and revenue of $37.1 million, while the Street was anticipating $37 million in revenue and only a loss of $0.03 in EPS. The firm notes that higher raw material costs lead to the miss.

ZOLT still remains very optimistik about 2011 and is maintaining its previous FY11 revenue guidance of $9.99 billion and its booking guidance of 7000-8000 megawatts, Q1 bookings at Vestas came in below expectations at 630 megawatt. DA Davidson comments that business at the company is typically much stronger in the second half of the year.

The firm is tweaking its CY11 and CY12 EPS and revenue estimates from $0.22/$180 million and $0.52/$207 million to $(0.04)/$181 million and $0.38/$215 million. Da Davidson is also lowering its price target from $14 to $11.

For more ratings news on Zoltek Companies, Inc. click here and for the rating history of Zoltek Companies, Inc. click here.

Shares of Zoltek Companies, Inc. closed at $10.80 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• DA Davidson Reiterates Neutral Rating on Timken (TKR)
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• Cellebrite (CLBT) PT Lowered to $15 at DA Davidson Following Q2 Miss