D.A. Davidson maintained its P.H. Glatfelter GLT Buy rating and $22 price target in a research report published today.
In the report, D.A. Davidson stated, "The company maintains ample liquidity ($323 million undrawn on its revolver) to pursue growth initiatives beyond those currently underway (read: bolt on acquisitions). In the quarter the company also completed a $50 million share repurchase (2.9 million shares at an average of about $17/share) which boosted quarterly earnings by another three cents year-over-year – we'd be surprised if another share repurchase wasn't authorized in the near term. With solid earnings momentum, good growth prospects and a sound balance sheet, we believe Glatfelter remains a compelling small cap growth story."
Shares of P.H. Glatfelter were trading at $16.02 at the time of posting, up 2.82% from Monday's market close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in