Jefferies Downgrades Donaldson Company (DCI) to Hold
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Price: $86.07 --0%
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 30
Rating Summary:
4 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 30
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Jefferies downgraded Donaldson Company (NYSE: DCI) from Buy to Hold with a price target of $33.00 (from $43.00) after lowered guidance from the company.
The firm comments, "In isolation, Donaldson's Q1 miss could be viewed as simple lumpiness (our prior $1.85 estimate was within the company's new $1.68-$1.88 range, vs. $1.89 consensus). Given a broader range of companies warning on demand trends into early 2013, however, Donaldson's relative valuation could be at risk. We are lowering 2013E and 2014E EPS by $0.05 each, our target $10 to $33 (10.5x calendar 2014E EBITDA) and our rating to HOLD."
The firm cut FY13 EPS from $1.85 to $1.80 and FY14 from $2.05 to $2.00.
For an analyst ratings summary and ratings history on Donaldson Company click here. For more ratings news on Donaldson Company click here.
Shares of Donaldson Company closed at $32.67 yesterday.
The firm comments, "In isolation, Donaldson's Q1 miss could be viewed as simple lumpiness (our prior $1.85 estimate was within the company's new $1.68-$1.88 range, vs. $1.89 consensus). Given a broader range of companies warning on demand trends into early 2013, however, Donaldson's relative valuation could be at risk. We are lowering 2013E and 2014E EPS by $0.05 each, our target $10 to $33 (10.5x calendar 2014E EBITDA) and our rating to HOLD."
The firm cut FY13 EPS from $1.85 to $1.80 and FY14 from $2.05 to $2.00.
For an analyst ratings summary and ratings history on Donaldson Company click here. For more ratings news on Donaldson Company click here.
Shares of Donaldson Company closed at $32.67 yesterday.
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