Auriga Maintains a 'Buy' on A.M. Castle (CAS); Remaining Constructive Despite EPS Miss
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Price: $26.76 --0%
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
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Auriga maintains a 'Buy' on A.M. Castle (NYSE: CAS) price target of $15.00.
Auriga analyst said, "CAS reported 4Q11 EPS results of $0.03 versus our estimate of $0.13 and consensus of $0.12. While revenue exceeded our estimate by approximately 4%, it was more than offset by higher than modeled expenses. We remain constructive on the company's key end markets, most notably oil and gas, aerospace and mining and heavy equipment. We also note the company's recently completed acquisition not only supplements its organic growth, but also nearly triples its exposure to the attractive oil and gas end market. This market now accounts for approximately one fourth of the company's revenue. Furthermore, our $15 price target offers over 35% upside from the current share price."
For an analyst ratings summary and ratings history on A. M. Castle click here. For more ratings news on A. M. Castle click here.
Shares of A. M. Castle closed at $10.91 yesterday.
Auriga analyst said, "CAS reported 4Q11 EPS results of $0.03 versus our estimate of $0.13 and consensus of $0.12. While revenue exceeded our estimate by approximately 4%, it was more than offset by higher than modeled expenses. We remain constructive on the company's key end markets, most notably oil and gas, aerospace and mining and heavy equipment. We also note the company's recently completed acquisition not only supplements its organic growth, but also nearly triples its exposure to the attractive oil and gas end market. This market now accounts for approximately one fourth of the company's revenue. Furthermore, our $15 price target offers over 35% upside from the current share price."
For an analyst ratings summary and ratings history on A. M. Castle click here. For more ratings news on A. M. Castle click here.
Shares of A. M. Castle closed at $10.91 yesterday.
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