Interline Brands falls 11% on downgrade to ‘neutral’
Interline Brands Inc. (NYSE:IBI) is down 11% today after Robert W. Baird downgraded the Jacksonville, Fla.-based company ahead of the opening to “neutral” from “outperform.” The downgrade comes on the heels of lower second quarter earnings, which the company reported after Monday’s close. Net income was $11.2 million, or $0.34 per share, compared with $12 million, or $0.37 per share, for the same period a year earlier.
At 12:15 p.m. ET, shares are at $13.49, down $1.62 from Monday’s close. Shares have ranged from today’s low of $12.83 to a high of $28.13 during the past year.
At 12:15 p.m. ET, shares are at $13.49, down $1.62 from Monday’s close. Shares have ranged from today’s low of $12.83 to a high of $28.13 during the past year.
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