Sterne Agee cut shares of AMCOL International (NYSE: ACO) from a buy rating to a neutral rating in a research note issued to investors on Thursday.
“Despite recent macro headwinds in the industrial space, we believe our $2.15, $2.26, and $2.57 EPS estimates for FY2012, 2013, and 2014 (respectively) remain achievable. In Oilfield Services, we expect that the company encountered some disruption from Hurricane Isaac, but the fact that the storm appears to have done little damage to the infrastructure of Gulf of Mexico energy production likely means that the impact on ACO was limited, in our opinion. Minerals & Materials is clearly levered to an industrial slowdown in the U.S., as well as Asia and Europe, but we believe slower growth is factored into our estimates. As for the Environmental segment, that has been troubled for some time, and our model assumes no top-line growth in this business until 2014.,” Sterne Agee’s analyst wrote.
AMCOL International opened at 34.75 on Thursday. AMCOL International has a 52-week low of $21.60 and a 52-week high of $36.28. The company has a market cap of $1.112 billion and a price-to-earnings ratio of 16.69.