Needham & Company Downgrades Xyratex (XRTX) to Hold; Valuation Call
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Price: $2.04 +0.99%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company downgraded Xyratex (NASDAQ: XRTX) from Buy to Hold.
Analyst, Glenn Hanus, said, "XRTX reported a solid F1Q - continuing to execute well in each of its business lines, NSS and SI. Our change in rating to Hold reflects the stock hitting our target ($17), our very slight reduction in F13E rev./EPS, and absence of visibility on a catalyst to move estimates, and hence the stock, higher. Rating change does not reflect a change in our view of the company, its strategy or execution. There were no significant surprises in the EPS report/Call."
FY12 EPS estimate lowered from $1.72 to $1.67 and FY13 from $1.81 to $1.70.
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $17.82 yesterday.
Analyst, Glenn Hanus, said, "XRTX reported a solid F1Q - continuing to execute well in each of its business lines, NSS and SI. Our change in rating to Hold reflects the stock hitting our target ($17), our very slight reduction in F13E rev./EPS, and absence of visibility on a catalyst to move estimates, and hence the stock, higher. Rating change does not reflect a change in our view of the company, its strategy or execution. There were no significant surprises in the EPS report/Call."
FY12 EPS estimate lowered from $1.72 to $1.67 and FY13 from $1.81 to $1.70.
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $17.82 yesterday.
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