Zacks Investment Research Downgrades GKN (GKNLY) to Hold

GKN (OTCMKTS:GKNLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “GKN plc operates as an engineering business serving the automotive, industrial, off-highway, and aerospace markets. It sells its products primarily to vehicle and aircraft manufacturers as well as, in Aerospace, to other tier one suppliers. It operates in four different business areas. Automotive segment supplies driveshaft, geared components, torque management devices, structural and engine components and substrates for catalytic converters. Powder Metallurgy segment produces powdered metal and sintered components for automotive and other industrial customers. OffHighway segment mainly designs and manufactures steel wheels and driveline products for the agricultural, construction and mining, and industrial machinery markets. Aerospace segment’ activities are concentrated on the production of airframe and engine structures, components and assemblies for both military and civil aerospace markets. GKN plc is headquartered in Redditch, the United Kingdom. “

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Separately, Numis Securities cut GKN from a “buy” rating to a “hold” rating in a research report on Monday, January 15th.

GKN stock opened at $5.87 on Thursday. GKN has a one year low of $3.86 and a one year high of $6.50.

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About GKN

GKN plc is a global engineering company. The Company is engaged in the design, manufacture and service of systems and components for original equipment manufacturers. The Company operates in four segments: GKN Aerospace, GKN Driveline, GKN Powder Metallurgy and GKN Land Systems. The GKN Aerospace segment is a supplier of airframe and engine structures, landing gear, electrical interconnection systems, transparencies and aftermarket services.

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