DA Davidson Downgrades Lacrosse Footwear Inc. (BOOT) to Neutral; Sales Softness Raises Near-term Risk; Cutting Estimates

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October 21, 2011 10:40 AM EDT
Get Alerts BOOT Hot Sheet
Price: $160.22 --0%

Rating Summary:
    19 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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DA Davidson downgraded Lacrosse Footwear Inc. (NASDAQ: BOOT) from Buy to Neutral, price target cut from $16 to $12.

DA analyst says, "Near-term sales are more challenging than we had previously anticipated and this is causing us to cut our EPS estimates: FY11 is going from $0.74 to $0.64 and FY12 is being reduced from $1.19 to $0.99. A slightly lower multiple of 12x FY12 EPS supports our new price target of $12."

For more ratings news on Lacrosse Footwear Inc. click here and for the rating history of Lacrosse Footwear Inc. click here.

Shares of Lacrosse Footwear Inc. closed at $12.62 yesterday.

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