Dahlman Rose Downgrades RPC Inc. (RES) to Sell; Unfavorable Risk/Reward
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Price: $7.23 -8.71%
Rating Summary:
6 Buy, 16 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
6 Buy, 16 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Dahlman Rose downgraded RPC Inc. (NYSE: RES) from Hold to Sell with a price target of $9.00.
Analyst, Doug Garber, said, "We see an unfavorable near-term risk-reward for RES and are assigning a $9 target. RPC's margins have held up the best so far in this downcycle probably due to low-cost guar and good utilization, but the magnitude of price deterioration and the loss of the low-cost guar advantage in 2013 should hurt margins." (FY13 EPS estimate lowered from $0.90 to $0.85)
For an analyst ratings summary and ratings history on RPC Inc. click here. For more ratings news on RPC Inc. click here.
Shares of RPC Inc. closed at $12.84 yesterday.
Analyst, Doug Garber, said, "We see an unfavorable near-term risk-reward for RES and are assigning a $9 target. RPC's margins have held up the best so far in this downcycle probably due to low-cost guar and good utilization, but the magnitude of price deterioration and the loss of the low-cost guar advantage in 2013 should hurt margins." (FY13 EPS estimate lowered from $0.90 to $0.85)
For an analyst ratings summary and ratings history on RPC Inc. click here. For more ratings news on RPC Inc. click here.
Shares of RPC Inc. closed at $12.84 yesterday.
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