NEW YORK (TheStreet) -- Shares of Bolt Technology (BOLT) are soaring, up 35.85% to $21.87 today after the technology company announced it has agreed to a merger with Teledyne Technologies (TDY) late yesterday, in a $171 million deal.
Bolt Technology will pay its previously announced quarterly dividend of 9 cents per common share on October 2.
A national securities law firm, Tripp Levy PLLC, is seeking a higher price for Bolt Technology shareholders, and launched an investigation into the acquisition to determine if Teledyne Technologies is underpaying for Bolt shares.
TheStreet Ratings team rates BOLT TECHNOLOGY CORP as a Buy with a ratings score of B. Highlights from the analysis by TheStreet Ratings Team goes as follows:
- BOLT TECHNOLOGY CORP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, BOLT TECHNOLOGY CORP increased its bottom line by earning $0.94 versus $0.78 in the prior year.
- The revenue fell significantly faster than the industry average of 20.4%. Since the same quarter one year prior, revenues fell by 22.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- The share price of BOLT TECHNOLOGY CORP has not done very well: it is down 6.17% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it is one of the factors that makes this stock an attractive investment.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Energy Equipment & Services industry. The net income has significantly decreased by 83.7% when compared to the same quarter one year ago, falling from $1.91 million to $0.31 million.
- You can view the full analysis from the report here: BOLT Ratings Report
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