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AMCOL International Corporation Message Board

  • steve.helton steve.helton Oct 27, 2009 10:15 AM Flag

    Davenport Downgrades ACO to Neutral from Buy

    Found this headline at Fly on the Wall.

    http://www.theflyonthewall.com/permalinks/entry.php/ACOid1153342


    09:34 EDT ACO theflyonthewall.com: AMCOL International downgraded to Neutral from Buy at Davenport

    Subscribe for More Information :theflyonthewall.com



    October 26, 2009
    14:09 EDT ACO theflyonthewall.com: AMCOL International downgraded to Neutral from Buy at Davenport

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    • Found more info. Looks like a valuation call on the increased price level.


      October 27, 2009 11:02 AM EDT

      Davenport downgrades AMCOL International (NYSE: ACO) from Buy to Neutral.

      Davenport analyst says, "Following the 3Q2009 report, we are raising our 4Q2009 EPS estimate from $0.19 to $0.29, largely due to better margin assumptions in the Minerals segment. Along with the 3Q beat, this takes our FY2009 EPS estimate from $0.79 to $1.10. For FY2010, our EPS estimate goes from $1.35 to $1.68...We continue to believe that AMCOL’s long-term outlook is positive and that the company will continue to grow and benefit from a rebound in economic activity and its strategic investments around the world (including particularly its South Africa chrome sands project)...That said, AMCOL’s stock has had a nice run recently and is up 44.2% since our upgrade on August 21 (vs. a 4.2% gain in the S&P 500). And, at 17.3x our FY2010 EPS estimate, we feel that the shares are fairly valued compared to the company’s long-term average trailing PE of 17.6x. As such, we are downgrading the shares of AMCOL to Neutral."

 
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