11:22 AM EDT, 07/16/2024 (MT Newswires) -- National Bank has trimmed its one year target on AirBoss of America ( ABSSF ) to $5.75, from $6.25, but kept its Sector Perform rating.

Analyst Ahmed Abdullah has tempered estimates as macro factors continue to drive softness across some customer segments for both AirBoss Rubber Solutions (ARS) and AirBoss Manufactured Products (AMP). Major tire manufacturers are highlighting softer demand across truck and specialty tire segments, while auto OEMs are coping with elevated inventory levels, he adds.

National Bank now expects second quarter revenues to be $103.8 million (was $110.2 million), Adj. EBITDA $5.8 million (was $6.2 million), and Adj. EPS -$0.03 (unchanged).

AirBoss reports its second quarter results on August 13.

Price: 5.63, Change: -0.02, Percent Change: -0.35