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UPDATE: Ascendiant Capital Initiates CIRCOR International with Neutral Rating on Mixed Outlook, Improving Profitability

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In a report published Tuesday, Ascendiant Capital analyst Christopher Bamman initiated coverage on CIRCOR International (NYSE: CIR) with a Neutral rating.

In the report, Bamman noted, “The macroeconomic outlook remains mixed as does its end markets. Repositioning initiatives have been undertaken to reduce costs, consolidate facilities and improve overall profitability. New CEO, Scott Buckholt, will be challenged to improve operating margins and/or engage in an accretive acquisition. Nonetheless, CIRCOR is positioned to capture opportunities within the positive longer term trends across the energy, power generation and aerospace markets. However, at current levels, we believe the shares are fully valued.”

CIRCOR International closed on Monday at $47.74.

Latest Ratings for CIR

DateFirmActionFromTo
Nov 2017KeyBancUpgradesSector WeightOverweight
Oct 2017Stifel NicolausMaintainsBuy
Aug 2017SunTrust Robinson HumphreyUpgradesHoldBuy

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Posted-In: Ascendiant CapitalAnalyst Color Initiation Analyst Ratings

 

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