Polypore International Receives “Neutral” Rating from DA Davidson (PPO)
Polypore International (NYSE:PPO)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a research note issued to investors on Tuesday, Analyst Ratings News reports. They currently have a $33.00 target price on the stock, down from their previous target price of $38.00. DA Davidson’s price target indicates a potential upside of 11.37% from the company’s current price.
The analysts wrote, “PPO reported Q4:CY13 EPS from continuing operations of $0.31 on revenues of $169.4 million (up 11% from Q3:CY13 but down 6% from Q4:CY12) versus consensus and our estimates of $0.31 on $164 million and $0.29 on $165 million, respectively. Revenues were helped by a $3.5 million licensing payment from Sumitomo Chemical (after the settlement of a patent lawsuit). Assuming legal expenses of ~$1 million and a ~32% nominal tax rate, we estimate this resulted in a ~$0.04 upside to Q4 earnings. A higher tax rate in Q4:CY13 vs. Q4:CY12 had a negative impact on a year-over-year basis. Cash on the balance sheet jumped to $163 million, helped primarily by the sale of the Microporous business (for $120 million). With ongoing litigation, Polypore recorded no revenues from LG in Q4.”
Shares of Polypore International (NYSE:PPO) opened at 29.63 on Tuesday. Polypore International has a one year low of $29.39 and a one year high of $48.41. The stock’s 50-day moving average is $34.95 and its 200-day moving average is $39.21. The company has a market cap of $1.326 billion and a price-to-earnings ratio of 28.19.
Polypore International (NYSE:PPO) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $169.40 million for the quarter, compared to the consensus estimate of $164.43 million. On average, analysts predict that Polypore International will post $1.50 earnings per share for the current fiscal year.
A number of other firms have also recently commented on PPO. Analysts at Davidson cut their price target on shares of Polypore International from $38.00 to $33.00 in a research note on Tuesday. Separately, analysts at Wedbush upgraded shares of Polypore International from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Finally, analysts at William Blair downgraded shares of Polypore International from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.62.
Polypore International, Inc is a global high-technology filtration company that develops, manufactures and markets specialized microporous membranes used in separation and filtration processes.
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