A few analyst rating changes for today..
Hat tip to Street Insider for the analyst commentary.
Canaccord Genuity maintains Buy rating on Casella Waste Systems (CWST) and has a price target of $6 which is more than 50% higher than current levels. “We maintain our BUY on CWST with higher confidence that the company can improve recycling volumes within its recycling segment this fiscal year.” Shares of CWST aren’t moving on the positive comments, down … Read the rest
Hat tip to StreetInsider.com for this report:
Trinity Industries (TRN) is getting an upgrade from Hold to Buy and Kaydon (KDN) gets a price target upgrade from $36 to $44 by Key Banc after the firm attended the American Wind Energy Association show in Chicago.
KeyBanc analyst says, “After recently attending the American Wind Energy Association’s show in Chicago, we are much more enthusiastic about the wind story for 2010, and we are upgrading our … Read the rest
Kaydon (KDN) which makes specialty ball bearings for wind turbines posted a 27% quarter over quarter profit drop from last year but beat analyst estimates of .41/share by posting .45/share excluding one time losses. Revenues increased over the year ago just a bit by 7%. Too bad its wind turbine business doesn’t make up more of the total revenue. That segment rose 78% over the year ago quarter making it by far its best performing … Read the rest
Nigel Coe, a Deutsche Bank analyst, downgraded Kaydon Corporation’s stock from "Hold" to "Buy," causing shares in the company to tumble. Coe also reduced his earnings per share estimate for the stock, dropping it from $2.01 to $1.76. Afterwards, Kaydon stock decreased in value by $2.02, closing at $31.10 on Friday.
Coe downgraded the stock based "on concerns about the stock’s relative strength, as well as weakness in the company’s core bearings business."
I reported yesterday that Kaydon (KDN), the maker of specialty ball bearings for the wind market reported so so results but that much of the negativity had most likely already been built in. Apparently, Deutsche Bank feels the same way and upgraded the stock from Hold to Buy this morning, saying:
“Cyclical risk appears adequately discounted. Plenty of free options. While we dislike the inherent cyclicality of Bearings markets as we enter what appears to … Read the rest
Kaydon Corp (KDN), the maker of specialty ball bearings for wind turbines reported less than stellar results this morning but managed to hold up reasonably well today, off less than 1%. Undoubtedly, much of the negativity has already been priced into the stock which is down more than 50% in a month. The company reported Q3 EPS of .50/share, .11 below analyst estimates while revenue was about 9 million below consensus estimates at 126.8 million.… Read the rest
Kaydon (KDN), the ball bearings maker (play on wind energy) posted better than expected quarterly profits on strong sales helped by growth in the wind market but its full year outlook was cautious sending the shares down more than 12% and slicing through its 200 day moving average.
The company a profit of .64/share, besting analyst estimates by a penny but growth in the wind segment was tempered by deterioration in the legacy industrial businesses. … Read the rest