NEW YORK (TheStreet) -- Voxx International (VOXX) plummeted to a one-year low of $6.84 on Thursday after the company reported fourth-quarter earnings that came up well short of analysts' expectations.
The consumer electronics company reported an adjusted loss of 35 cents a share, while analysts had expected earnings of 24 cents a share. Revenue totaled $187.1 million, far less than analysts' expectations of $205.47 million.
Voxx also issued full-year revenue guidance of $825 million to $830 million, compared to the consensus estimate of $870.59 million.
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B. Riley also downgraded the stock to "neutral" from "buy."
The stock was down 27.16% to $7.34 at 3:18 p.m. Nearly 2 million shares had changed hands, compared to the average volume of 131,810.
TheStreet Ratings team rates VOXX INTERNATIONAL CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VOXX INTERNATIONAL CORP (VOXX) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."