NEW YORK (TheStreet) -- Shares of Kraton Performance Polymers Inc. (KRA) are up 1.03% to $22.28 on Monday after its board said it notified LCY Chemical of its intention to withdraw its recommendation that shareholders approve an agreement to combine with LCY's Styrenic block polymer business.
The notice from the Kraton Board cited the decline in the operating results for LCY's SBC business in the first quarter of 2014.
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TheStreet Ratings team rates KRATON PERFORMANCE POLYMERS as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate KRATON PERFORMANCE POLYMERS (KRA) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins."