KeyBanc Downgrades Quaker Chemical (KWR) to Hold; Next Few Quarters Could Mute Potential Positives
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Price: $165.30 +0.29%
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc downgraded Quaker Chemical (NYSE: KWR) from Buy to Hold.
KeyBanc analyst says, "We are downgrading shares of KWR as we tend to view KWR as one of the most cyclical names in our coverage space with roughly 50% of net sales tied to global steel markets and 33% of net sales directly and indirectly tied to global automotive production. We do not see a near or medium-term catalyst to get positive momentum in the stock which is likely to limit upside as the economic environment deteriorates."
"We suspect high single-digit earnings growth remains on track for 2H11 and feel comfortable with our FY11 EPS outlook of $3.25 compared to 2010 EPS of $2.96 and First Call mean of $3.27. That being said, end market demand could be slowing, as potential volume declines over the next few quarters could mute potential positives in pricing and acquisition gains."
For more ratings news on Quaker Chemical click here and for the rating history of Quaker Chemical click here.
Shares of Quaker Chemical closed at $27.70 yesterday.
KeyBanc analyst says, "We are downgrading shares of KWR as we tend to view KWR as one of the most cyclical names in our coverage space with roughly 50% of net sales tied to global steel markets and 33% of net sales directly and indirectly tied to global automotive production. We do not see a near or medium-term catalyst to get positive momentum in the stock which is likely to limit upside as the economic environment deteriorates."
"We suspect high single-digit earnings growth remains on track for 2H11 and feel comfortable with our FY11 EPS outlook of $3.25 compared to 2010 EPS of $2.96 and First Call mean of $3.27. That being said, end market demand could be slowing, as potential volume declines over the next few quarters could mute potential positives in pricing and acquisition gains."
For more ratings news on Quaker Chemical click here and for the rating history of Quaker Chemical click here.
Shares of Quaker Chemical closed at $27.70 yesterday.
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