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Mueller Industries (NYSE:MLI) was downgraded by investment analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, reports.

Mueller Industries (NYSE:MLI) opened at 60.39 on Thursday. Mueller Industries has a 1-year low of $48.10 and a 1-year high of $64.05. The stock has a 50-day moving average of $61.92 and a 200-day moving average of $58.43. The company has a market cap of $1.707 billion and a price-to-earnings ratio of 9.86.

Mueller Industries (NYSE:MLI) last announced its earnings results on Wednesday, February 5th. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.16. The company had revenue of $487.72 million for the quarter, compared to the consensus estimate of $509.56 million. During the same quarter last year, the company posted $0.58 earnings per share. Mueller Industries’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Mueller Industries will post $3.19 earnings per share for the current fiscal year.

Mueller Industries, Inc is a manufacturer of copper, brass, plastic, and aluminum products. The Company’s products include copper tube and fittings; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic pipe, fittings and valves; refrigeration valves and fittings; fabricated tubular products; and steel nipples.

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