Gerber Scientific, Inc. (GRB) Downgraded to Hold at Needham Following Takeover

Gerber Scientific, Inc. (GRB) has been downgraded today by the securities research analysts at investment firm Needham which cut Gerber Scientific from a “buy” rating to “hold.”  Needham does not have a current price target performance outlook for the GRB.  Needham provided the rating change post-takeover bid from Vector Capital worth $281.80 million dollars, or $11.00 per share.  The acquisition took place yesterday.

GRB massively gapped up at the beginning of the normal market session yesterday and shares rode a price level in-line with Vector’s bid for the company.  Shares of GRB today are consolidating within yesterday’s intraday trading range, however, bias is to the downside.

Gerber Scientific is slated to release their next earnings report on June 22nd, 2011, and the current consensus EPS estimate is expected to be 6 cents.  Gerber Scientific’s last earnings report was released on March 3rd, 2011, and announced EPS of 7 cents with revenue totaling $111.9 million which was up 12.8 % year to year.  GRB is currently trading well-above its 50 & 200-day moving averages and 2011 is currently an up year for the company, due in part to yesterday’s acquisition deal with Vector.

Gerber Scientific, Inc., through its subsidiaries, develops, manufactures, distributes and services automated equipment and software in three industries worldwide.  The company has market capitalization of $276,037,200 and 25,140,000  shares outstanding.  GRB has a 52-week high of $11.07 with the low being $4.64 dollars.

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