Equities researchers at Feltl & Co. cut their target price on shares of STR Holdings (NASDAQ: STRI) from $6.50 to $4.00 in a report issued on Wednesday. The firm currently has a “hold” rating on the stock.
The analysts wrote, “Long term, STR has the potential to grow with the industry and the superiority of its product should allow for healthy margins and FCF. Near-term, however, we prefer to take a cautious approach to our rating and price target until we start to see signs that pricing has stabilized and orders are rebounding. Our new $4.00 price target is based on a 5.2x our revised NTM adjusted EBITDA estimate of $18.3 million. Given the recent price concessions the company has had to give to maintain share and the back-half weighted nature of current guidance, we prefer to wait for a clear signal that volumes have returned before getting more constructive on the stock.”
Shares of STR Holdings traded up 27.82% during mid-day trading on Wednesday, hitting $4.87. STR Holdings has a one year low of $3.56 and a one year high of $17.32. The company’s market cap is $200.6 million.
The company last announced its quarterly results on Tuesday, May 1st. It reported $0.07 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.02) EPS by $0.09. The company’s quarterly revenue was down 54.2% on a year-over-year basis. On average, analysts predict that STR Holdings will post $0.08 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Craig Hallum upgraded shares of STR Holdings from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Maxim Group cut their price target on shares of STR Holdings from $15.00 to $12.00 in a research note to investors on Wednesday, March 14th. They now have a “buy” rating on the stock. Finally, analysts at Avian upgraded shares of STR Holdings to a “neutral” rating in a research note to investors on Monday, March 12nd.
STR Holdings LLC (Holidngs) is engaged in solar power module encapsulant manufacturing and consumer product quality assurance.