Boston, MA 03/10/2014 (wallstreetpr) – Analysts at KeyBanc have upgraded Materion Corp (NYSE:MTRN) stock from a Hold in the market to a “Buy” as the company continues to show substantial strengths. Materion Corp announced that it expects improved bookings for its first quarter of the current quarter that should be higher by 10% compared to the same quarter last year. There has been an increased momentum in consumer electronics that should see the company report improved sales for the current fiscal year.
Materion Corp (NYSE:MTRN) has experienced an acceleration in free cash flow following record high in 2013, a pattern that is expected to replicate itself in the current fiscal year. KeyBanc currently have a share price target of $36 on Materion stock. Materion’s stock moved up by 11% on March 6, 2014 with too many shares changing hands.
Materion Corp (NYSE:MTRN)’s stock continue to surge in the market having gained by highs of 30% over a one month time frame alone. Thursday trading session saw the company cross over its 200 day moving average of $29.35 exchanging hands at high levels of $30.22
Materion Fourth quarter results
Materion Corp (NYSE:MTRN) last updated its results on February 26, 2014 in which sales for its fourth quarter were slightly lower coming in at $286.1 million against highs of $303.8 million reported for the same quarter a year ago. Net income for the fourth quarter was slightly up coming in at $3.8 million against lows of $2.5 million reported for the same quarter in 2012.
Materion Corp (NYSE:MTRN) full year sales clocked in at $1.2 billion a slight drop compared to a high of $1.3 billion reported in F2012. Value added sales for the fourth quarter came in at $157.2 million up by 4% compared to a low of $151.3 million reported in the fourth quarter of 2012. Value added sales for the full year clocked in at $609.1 million slightly lower compared to highs of $615.6 million in 2012.
Materion Corp (NYSE:MTRN) went down by 3.11% on Friday trading session closing the week at a low of $33.07.
