Wedbush Cuts Price Target on Heckmann Corporation (HEK) Following Market Checks
Tweet
Share
E-mailGet Alerts HEK Hot Sheet
Price: $3.74 --0%
Rating Summary:
2 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wedbush is maintaining its Neutral rating on shares of Heckmann Corporation (NYSE: HEK), while lowering its price target from $6 to $5.
The firm's market checks indicate a little pricing power within the Haynesville
and Barnett plays as a result of solid competition from small and large players alike.
Following the market checks, Wedbush is reducing its FY12 and FY13 EPS estimates from $0.17 and $0.30 to $0.15 and $0.26.
An analyst at Wedbush comments, "While our model is based on organic growth with some tuck-in acquisitions, we suspect the company will continue to execute on acquisitions, possibly as early as this quarter. On January 3, 2012, the company’s registration statement for the sale of 15 million shares for acquisition purposes became effective."
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $5.02 yesterday.
The firm's market checks indicate a little pricing power within the Haynesville
and Barnett plays as a result of solid competition from small and large players alike.
Following the market checks, Wedbush is reducing its FY12 and FY13 EPS estimates from $0.17 and $0.30 to $0.15 and $0.26.
An analyst at Wedbush comments, "While our model is based on organic growth with some tuck-in acquisitions, we suspect the company will continue to execute on acquisitions, possibly as early as this quarter. On January 3, 2012, the company’s registration statement for the sale of 15 million shares for acquisition purposes became effective."
For an analyst ratings summary and ratings history on Heckmann Corporation click here. For more ratings news on Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $5.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
- Wolverine World Wide (WWW) PT Raised to $31 at UBS on Growth, EPS Upside Potential
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
