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UPDATE: Wedbush Reiterates Outperform Rating, Lowers PT on Polypore International

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Earnings Scheduled For March 4, 2015
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In a report published Wednesday, Wedbush Securities reiterated its Outperform rating on Polypore International (NYSE: PPO), but lowered its price target from $45.00 to $41.00.

Wedbush noted, “Margins were weighed down primarily by the Lithium Separator business, where headwinds came from under absorption of fixed overhead, the transitory impact of elevated startup costs, and using available capacity for process qualification trials. Lithium Separator operating margins fell to 31%, down from 40% in 1Q12, and 47% in 2Q11. The ~$4.3m Q/Q erosion in segment profitability came primarily from the startup costs and process trials, where some costs will continue into 3Q12, and depreciation was a $1m Q/Q headwind.”

Polypore International closed on Tuesday at $37.16.

Latest Ratings for PPO

DateFirmActionFromTo
Mar 2015Cowen & CompanyDowngradesOutperformMarket Perform
Feb 2015MLVDowngradesBuyHold
Feb 2015William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for PPO
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Analyst Ratings

 

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