Needham & Company Downgrades Zoltek (ZOLT) to Underperform; Wind Driven Acceleration Might Be A Couple of Quarters Away
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Price: $16.73 --0%
Rating Summary:
1 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded Zoltek (NASDAQ: ZOLT) from Hold to Underperform.
Analyst, Michael Lew, said, "Zoltek delivered a better than expected quarter of results. The company has all manufacturing lines at or near production ready status in anticipation of an acceleration in demand from the wind energy sector and possibly other end-markets. We agree with
management’s perspective regarding a secular transition to more carbon fiber (CF) composite material applications. However, we are uncertain about the near-term rate of uptake for the company’s CF material. We are taking a conservative stance at this time."
FY12 EPS raised from $0.51 to $0.59, but lowers FY13 from $0.50 to $0.48.
For an analyst ratings summary and ratings history on Zoltek Companies, Inc. click here. For more ratings news on Zoltek Companies, Inc. click here.
Shares of Zoltek Companies, Inc. closed at $14.58 yesterday.
Analyst, Michael Lew, said, "Zoltek delivered a better than expected quarter of results. The company has all manufacturing lines at or near production ready status in anticipation of an acceleration in demand from the wind energy sector and possibly other end-markets. We agree with
management’s perspective regarding a secular transition to more carbon fiber (CF) composite material applications. However, we are uncertain about the near-term rate of uptake for the company’s CF material. We are taking a conservative stance at this time."
FY12 EPS raised from $0.51 to $0.59, but lowers FY13 from $0.50 to $0.48.
For an analyst ratings summary and ratings history on Zoltek Companies, Inc. click here. For more ratings news on Zoltek Companies, Inc. click here.
Shares of Zoltek Companies, Inc. closed at $14.58 yesterday.
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