Brightpoint Rating Lowered to Hold at TheStreet (CELL)
Brightpoint (NASDAQ: CELL) was downgraded by investment analysts at TheStreet to a “hold” rating in a note issued to investors on Monday.
Brightpoint traded up 0.41% on Monday, hitting $6.145. Brightpoint has a 1-year low of $6.01 and a 1-year high of $12.05. The company has a market cap of $424.9 million and a price-to-earnings ratio of 9.86.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.16 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.20 EPS by $0.04. The company’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts expect that Brightpoint will post $0.26 EPS next quarter.
CELL has been the subject of a number of other recent research reports. Analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Brightpoint from $10.00 to $7.00 in a research note to investors on Monday. Separately, analysts at Canaccord Genuity cut their price target on shares of Brightpoint from $14.00 to $10.00 in a research note to investors on Sunday. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Brightpoint from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, March 22nd. They now have a $8.75 price target on the stock.
Brightpoint, Inc. provides supply chain solutions to the wireless technology industry. The Company’s primary business is moving wireless devices closer to, or directly into, the hands of mobile subscribers.