Accuride Corporation (ACW) is Upgraded by Gabelli & Co to Buy, Price Target at $4

Accuride Corporation (ACW) was Upgraded by Gabelli & Co to ” Buy” and the brokerage firm has set the Price Target at $4. Earlier the firm had a rating of “Hold ” on the company shares. Gabelli & Co advised their investors in a research report released on May 4, 2016.

On the company’s financial health, Accuride Corporation reported $-0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.07. The company had revenue of $160.90 million for the quarter, compared to analysts expectations of $165.39 million. The company’s revenue was down -12.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Accuride Corporation opened for trading at $1.63 and hit $1.64 on the upside on Monday, eventually ending the session at $1.64, with a gain of 1.23% or 0.02 points. The heightened volatility saw the trading volume jump to 1,31,227 shares. Company has a market cap of $79 M.

In a different news, on Mar 3, 2016, Richard F Dauch (CEO) purchased 100,000 shares at $1.44 per share price. According to the SEC, on Mar 2, 2016, John W Risner (director) purchased 23,800 shares at $1.28 per share price. On Nov 10, 2015, Gregory Alan Risch (CFO) purchased 2,500 shares at $2.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Accuride Corporation is a manufacturer and supplier of commercial vehicle components in North America. The Company’s three segments are Wheels Gunite and Brillion Iron Works. The Wheels segment’s products primarily consist of steel and aluminum wheels. The Gunite segment’s products consist primarily of wheel-end components and assemblies. The Brillion Iron Works segment’s products primarily consist of ductile austempered ductile and gray iron castings including engine and transmission components and industrial components. It classifies its products as wheels wheel-end components and assemblies and ductile and gray iron castings. The Company markets its products under a number of brand names including Accuride Gunite and Brillion. It serves original equipment manufacturers (OEMs) and their related aftermarket channels in the commercial vehicle market including heavy-and medium-duty trucks commercial trailers light trucks buses as well as specialty and military vehicles.

Accuride Corporation

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