The firm said it cut its rating on the company, which provides construction and engineering services for electric utilities in the U.S., after Pike announced it will go private in the 2014 fourth quarter.
The company's CEO agreed to take the company private along with the investment firm Court Square Capital Partners in a deal valuing Pike Corp at $383 million, the Wall Street Journal reports.
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Separately, TheStreet Ratings team rates PIKE CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PIKE CORP (PIKE) 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 revenue growth, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and poor profit margins."