NEW YORK (TheStreet) -- Shares of P&F Industries Inc. (PFIN) are up 1.43% to $7.74 after it announced it acquired all of the outstanding equity interests of Exhaust Technologies, Inc. (EXHS) with a total purchase price of approximately $10.37 million in cash, effective July 1.
P&F said it believes that this acquisition will be immediately accretive to earnings.
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Separately, TheStreet Ratings team rates P & F INDUSTRIES as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate P & F INDUSTRIES (PFIN) a BUY. This is driven by multiple strengths, 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 largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."