LaBarge Rating Reiterated by Nomura (LB)
LaBarge (NYSE:LB)‘s stock had its “positive” rating reiterated by investment analysts at Nomura in a note issued to investors on Friday, AnalystRatings.Net reports.
The analysts wrote, “LB’s 3rd consecutive 9% January comp vastly outperformed expectations as the semi-annual sales drove stronger-than-expected topline at “significant” merch margin pressure, leading the company to guide to EPS only ‘slightly above’ its prior guidance. Although challenging mall traffic forced a promotional driven comp, we do believe the calendar impacted the headline margin number. We maintain our Neutral rating in the face of ongoing challenging trends and our expectation for a below-consensus FY14 guide.”
A number of other firms have also recently commented on LB. Analysts at Buckingham Research initiated coverage on shares of LaBarge in a research note to investors on Wednesday, January 29th. They set a “neutral” rating and a $57.00 price target on the stock. Separately, analysts at Mizuho cut their price target on shares of LaBarge from $65.00 to $58.00 in a research note to investors on Friday, January 10th. They now have a “neutral” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of LaBarge from $54.00 to $53.00 in a research note to investors on Thursday, January 9th. They now have a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.00.
LaBarge (NYSE:LB) traded up 1.11% during mid-day trading on Friday, hitting $54.58. The stock had a trading volume of 2,649,301 shares. LaBarge has a 52 week low of $42.49 and a 52 week high of $67.12. The stock has a 50-day moving average of $56.9 and a 200-day moving average of $59.39. The company has a market cap of $15.844 billion and a price-to-earnings ratio of 19.33.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of 0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, February 19th. This is a positive change from LaBarge’s previous quarterly dividend of $0.30.
LaBarge, Inc (NYSE:LB) provides electronic, electromechanical and interconnect systems on a contract basis for customers in diverse technology-driven markets.
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