Dutton Associates Announces Investment Opinion: LESCO Neutral Rating Maintained By Dutton Associates
2006年8月15日 - 1:00AM
ビジネスワイヤ(英語)
Dutton Associates continues its coverage of LESCO Inc.
(Nasdaq:LSCO) with an update report. LESCO's rating is maintained
at Neutral. The report by Dutton senior analyst Paul Resnik, CFA is
available at www.jmdutton.com as well as from First Call,
Bloomberg, Zacks, Reuters, Knobias, Investars and other leading
financial portals. LESCO is the largest supplier to the U.S.
professional lawn-care and golf-course markets. Over the past four
years, the Company has been engaged in an ongoing restructuring as
it has sought to increase profitability and put itself on a growth
path. After putting new management in place in 2001/2002, LESCO
commenced to discontinue low-profitability manufacturing
operations, restart the expansion of its Service Center(C) chain,
cut headquarters expense and reconfigure its distribution network.
On October 7, 2005, LESCO consummated the sale of substantially all
of its supply chain assets to Turf Care Supply Corp. (TCS), an
affiliate of Platinum Equity LLC. Improved results may yet come,
but thus that has not been the case. Decisions made last year
regarding its direct sales force and urea supply arrangement have
hurt 2006 results and the Company now expects to report flat
revenues and a loss for the year. While steps to correct marketing
and purchasing strategy errors could bring LESCO back to solid
profitability and put the Company on a growth track, clear signs
that these steps have been successful are likely to be months away.
We believe that it is prudent to maintain our Neutral rating at
this time. About Dutton Associates Dutton Associates is one of the
largest independent investment research firms in the U.S. Its 31
senior analysts are primarily CFAs, and have expertise in many
industries. Dutton Associates provides continuing analyst coverage
of over 140 enrolled companies, and its research, estimates, and
ratings are carried in all the major databases serving institutions
and online investors. Our annual research coverage, which currently
costs US $39,500 prepaid, is 4 Research Reports, typically
published quarterly, and requisite Research Notes. Dutton
Associates received $77,000 from the Company for 12 Research
Reports with coverage commencing on 3/12/2003. We do not accept
payment of our fees in company stock. Our principals and analysts
are prohibited from owning or trading in securities of covered
companies. The views expressed in this research report accurately
reflect the analyst's personal views about the subject securities
or issuer. Neither the analyst's compensation nor the compensation
received by us is in any way related to the specific ratings or
views contained in this research report or note. Please read full
disclosures and analyst background at www.jmdutton.com before
investing.
Lesco (NASDAQ:LSCO)
過去 株価チャート
から 8 2024 まで 9 2024
Lesco (NASDAQ:LSCO)
過去 株価チャート
から 9 2023 まで 9 2024
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