Edwards Group Ltd – Downgraded to Neutral at Piper Jaffray Cos. (EVAC)
Edwards Group Ltd – (NASDAQ:EVAC) was downgraded by stock analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
The analysts wrote, “Edwards announced this morning that it has entered into a definite merger agreement with Swedish based industrial company, Atlas Copco (ATCO A, ATCO B), in a transaction valued up to $1.6bn including assumption of net debt of £248m (~$387m). The initial payment of $9.25/share in cash represents a 11% premium to EVAC’s 30 day avg. closing price of $8.33 and is payable at the deal’s close, likely in 1Q14. An additional payment ranging from $0.25-$1.25/share is payable based on Revenue and EBITDA thresholds achieved by EVAC in CY13. Atlas Copco and EVAC do not have any major product overlaps and we believe the combination broadens out the offering, particularly in the general industrial-segment.”
Separately, analysts at Zacks upgraded shares of Edwards Group Ltd – from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, June 12th. They now have a $8.20 price target on the stock.
Edwards Group Ltd – (NASDAQ:EVAC) traded down 0.20% on Tuesday, hitting $9.98. The stock had a trading volume of 74,782 shares. Edwards Group Ltd – has a one year low of $5.42 and a one year high of $10.35. The stock’s 50-day moving average is $8.36 and its 200-day moving average is $7.87. The company has a market cap of $1.126 billion and a price-to-earnings ratio of 29.50.
Edwards Group Ltd – (NASDAQ:EVAC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.03. On average, analysts predict that Edwards Group Ltd – will post $59.09 earnings per share for the current fiscal year.
Edwards Group Limited (NASDAQ:EVAC) a global industrial technology company, is a manufacturer of vacuum products and abatement systems and a provider of related value-added services.
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