Shares of Insituform Technologies (INSU -7.3%) sink after Oppenheimer downgrades the firm to...

|By:, SA News Editor

Shares of Insituform Technologies (INSU -7.3%) sink after Oppenheimer downgrades the firm to Underperform from a Perform rating, as poor weather and flooding hurts the piping and sewer business in the near term. Estimates on earnings were slashed to $1.00, well-below the company's guidance of $1.30-$1.40 and consensus estimate of $1.25.