Needham & Company Maintains a 'Buy' on Kid Brands (KID); New KID On The Block: 3Q Sales Beat, EPS Slightly Miss Our Estimates

Needham & Company maintains a 'Buy' on Kid Brands (NYSE: KID) price target of $9.00.

Needham analyst says, "KID reported 3Q above our estimates, and non-GAAP EPS slightly below. Sales were $69.5 mm vs. our estimate of $64.4 mm. GAAP EPS was $0.00, down from $0.18 per share in 2010, but included one-time charges totaling $0.10. Management reiterated 2011 non-GAAP EPS guidance of $0.40, inline with our estimate (reported EPS would be a loss of $0.06), taking into account 3Q results. Acting-CEO Raphael Benaroya’s “tough love” approach to a turnaround should produce improved product differentiation, more rational pricing, and greater internal accountability."

For an analyst ratings summary and ratings history on Kid Brands click here. For more ratings news on Kid Brands click here.

Shares of Kid Brands closed at $2.95 yesterday.

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