Maxim Group Initiates Coverage on Blount International (BLT)
Equities researchers at Maxim Group initiated coverage on shares of Blount International (NYSE:BLT) in a research report issued on Tuesday. The firm set a “hold” rating and a $4.00 price target on the stock. Maxim Group’s price objective points to a potential downside of 69.33% from the company’s current price.
Shares of Blount International (NYSE:BLT) opened at 13.04 on Tuesday. Blount International has a 1-year low of $10.52 and a 1-year high of $14.74. The stock’s 50-day moving average is $12.05 and its 200-day moving average is $12.63. The company has a market cap of $645.0 million and a P/E ratio of 109.67.
Blount International (NYSE:BLT) last announced its earnings results on Friday, May 9th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.05. The company had revenue of $232.60 million for the quarter, compared to the consensus estimate of $219.61 million. During the same quarter last year, the company posted $0.19 earnings per share. Blount International’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that Blount International will post $0.88 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at ISI Group upgraded shares of Blount International from a “hold” rating to a “buy” rating in a research note on Tuesday, June 10th. They now have a $16.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at KeyCorp upgraded shares of Blount International from a “hold” rating to a “buy” rating in a research note on Tuesday, June 10th. They now have a $16.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Blount International from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $11.80 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $11.76.
Blount International, Inc (NYSE:BLT) is a global industrial company.
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