Overview
- Shares fell about 32% over October 23–24, touching an intraday low near $66.50 before closing around $73.89, marking a 52-week and all-time low.
- Updated 2025 outlook now calls for 7%–8% sales growth and $220–$226 million in operating income, down from prior targets of 8%–9% and $232–$244 million.
- Preliminary 2026 view points to sales that could decline or rise up to 2%, with organic growth projected between flat and 4%.
- Raymond James lowered its price target to $95 from $143 and kept an Outperform rating, citing headwinds from three customers that cap 2026 organic growth to low single digits and limited disclosure that clouds visibility, while expecting recovery to begin late 2026 with new launches.
- Q3 results showed year-over-year gains with sales of roughly $467.7 million and net income of about $39.7 million, as commentary split between valuation upside arguments and concerns over leverage of about $1.3 billion, cash near $23 million, and weaker margins.