Stifel Nicolaus Downgrades NCI to Hold

Stifel Nicolaus is out with its report today on NCI NCIT, downgrading NCIT from Buy to Hold. In its report, Stifel Nicolaus writes, "We are lowering our rating on NCIT from Buy to Hold based on the company's lower outlook, contract performance problems, margin pressures and soft awards. While we expect NCIT's stock to be weak this morning on the news, we have lower confidence in the company's ability to grow double digit organically and expand margins in an increasingly difficult federal budget environment over the next couple of years given the company's recent soft awards and margin pressure." At the time of posting, shares of NCIT were trading at $13.85, down 34.48% from Wednesday's close.