Minerals Tech Downgraded by First Analysis to Equal Weight (MTX)

Minerals Tech (NYSE: MTX) was downgraded by equities researchers at First Analysis from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $39.00 target price on the stock.

Shares of Minerals Tech (NYSE: MTX) opened at 42.28 on Tuesday. Minerals Tech has a 52 week low of $30.44 and a 52 week high of $43.28. The stock’s 50-day moving average is currently $41.4. The company has a market cap of $1.483 billion and a P/E ratio of 20.09.

Minerals Tech (NYSE: MTX) last released its earnings data on Thursday, January 31st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $244.20 million for the quarter, compared to the consensus estimate of $242.50 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that Minerals Tech will post $2.25 EPS for the current fiscal year.

A number of other firms have also recently commented on MTX. Analysts at JPMorgan Chase downgraded shares of Minerals Tech from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, February 6th. They now have a $43.00 price target on the stock, up previously from $39.00. Analysts at Sidoti downgraded shares of Minerals Tech from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 8th.

Minerals Technologies Inc. is a resource- and technology-based company, which develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services.

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