DA Davidson Downgrades Metalico (MEA) to Neutral; Long-Term Potential but Near-Term Haze
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Price: $0.60 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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DA Davidson downgraded Metalico (NYSE: MEA) from Buy to Neutral, price target lowered from $5.50 to $4.25.
Analyst, Brent Thielman, said, "Should ferrous scrap prices see a meaningful rebound, we would expect to see a benefit to earnings that could make these shares more appealing at current levels. However, with limited signs of improvement in market conditions/pricing, and valuation multiples more comparable with industry peers, we are reducing our rating."
FY12 EPS estimate cut from $0.46 to $0.26 and FY13 from $0.60 to $0.38.
For an analyst ratings summary and ratings history on Metalico click here. For more ratings news on Metalico click here.
Shares of Metalico closed at $3.92 yesterday.
Analyst, Brent Thielman, said, "Should ferrous scrap prices see a meaningful rebound, we would expect to see a benefit to earnings that could make these shares more appealing at current levels. However, with limited signs of improvement in market conditions/pricing, and valuation multiples more comparable with industry peers, we are reducing our rating."
FY12 EPS estimate cut from $0.46 to $0.26 and FY13 from $0.60 to $0.38.
For an analyst ratings summary and ratings history on Metalico click here. For more ratings news on Metalico click here.
Shares of Metalico closed at $3.92 yesterday.
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