KeyBanc Downgrades Materion Corp. (MTRN) to Hold

KeyBanc downgraded Materion Corp. (NYSE: MTRN) from Buy to Hold.

Analyst Philip Gibbs said, "We are downgrading shares of Materion Corporation (MTRN-NYSE) to HOLD from BUY via a more balanced risk-reward, while our estimates are unchanged. We believe investors are now in better appreciation of the Company's near-term margin expansion and earnings potential. Since our March 5, 2014 upgrade, MTRN shares have improved 28% (excluding dividend) vs. the Steel Market Vectors Index (SLXNYSE) of +9% and the S&P 500 of +6%. While we expect shares to consolidate over the near term, we encourage more patient long-term GARP investors to focus on consistent free cash flow, a renewed focus on M&A, and potential tightness in the global beryllium supply chain, the latter of which is partially captured in our 2015 view."

For an analyst ratings summary and ratings history on Materion Corp. click here. For more ratings news on Materion Corp. click here.

Shares of Materion Corp. closed at $39.26 yesterday.

You May Also Be Interested In

• Freedom Broker Starts Copart (CPRT) at Buy
• Freedom Broker Downgrades Mondelez International (MDLZ) to Hold
• DA Davidson Downgrades Open Lending (LPRO) to Neutral