EON (ETR:LEO) May Have Just Reached An Inflection Point; Kepler Cheuvreux Downgrades Shares

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EON (ETR:LEO) Receives a Downgrade

Kepler Cheuvreux has downgraded shares of EON (ETR:LEO) to a Reduce rating in recent note released on Wednesday morning. The firm now has a EUR 8.00 target price on shares. Kepler Cheuvreux’s target price would now indicate a possibly downside of -5.10% from the closing share price of the stock.

From a total of 22 analysts covering LEONI (ETR:LEO) stock, 9 rate it a ”Buy”, 6 a “Sell”, and 7 a ”Hold”. This means that 41% of the ratings are positive. The highest target price is €76 while the lowest target price is €7. The mean of all analyst targets is €24.36 with a -28.18% below today’s (€33.92) stock price. LEONI was the topic of 72 analyst reports since July 16, 2015 according to the firm StockzIntelligence Inc. Kepler Cheuvreux downgraded shares on December 9 to “Reduce” rating. Macquarie Research upgraded shares to “Outperform” rating and €13 target share price in a report from a November 25. Baader Wertpapierhandelsbank downgraded LEO stock in a recent report from December 1 to “Sell” rating. Landesbank upgraded the rating on November 14. Landesbank has a “Buy” rating and a €37 price target on shares. Finally, Warburg Research maintained the stock with “Hold” rating in a report issued on a November 27.

Approximately 84,527 shares of stock traded hands. LEONI AG (ETR:LEO) has risen 2.56% since May 6, 2015 and is uptrending. It has outperformed by 3.36% the S&P500.

 EON (ETR:LEO) May Have Just Reached An Inflection Point; Kepler Cheuvreux Downgrades Shares

The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.32, from 1.32 in 2015Q2. The ratio turned negative, as 6 institutions have sold all the shares of LEONI AG that they owned while 17 funds have taken shares off the table. 10 funds have purchased shares for the first time while 13 added to their positions. These institutions now hold 2.96 million shares or 8.05% less than the 3.22 million shares they owned in 2015Q2.

The Fund Liberty Street Advisors Inc. currently is holding shares equating to 3.53% of its total portfolio in LEONI AG representing a total of 232,264 shares. Another fund,Macroview Investment Management Llc, is holding a total of 192,066 shares equating to 2.87% of their holdings. Additionally, Hanlon Investment Management Inc. has a 13,900 share stake in LEONI AG which represents 0.22% of their total portfolio. The Fund, Investors Asset Management Of Georgia Inc Ga Adv, based out of Georgia, has also built up a stake in the stock, which represents a total of 0.21% of their total portfolio. Finally Marquette Asset Management Inc., a fund which is based in the state of Minnesota reported a total holdings of 56,135 shares.

Leoni AG is a Germany-based holding firm that provides wires, optical fibers, cables and cable systems, and related services for application in the automotive sector and other industries. The company has a market cap of 1.14 billion EUR. The Firm operates through two divisions: Wire & Cable Solutions and Wiring Systems. It has 10.59 P/E ratio. The Wire & Cable Solutions division develops, produces and sells wires, strands and tapes for cable production and electrical, as well as electromechanical components, of Lyonese wares for textiles, as well as cables, conductors and cable systems for the automotive and electrical appliance industries, data and communications technology, multimedia segment, healthcare sector, automation and process technology, among others.

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