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Investment Analysts’ downgrades for Wednesday, February 12th:

Apollo Investment Corp. (NASDAQ:AINV) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Apollo Investment (AINV) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company’s cash flow from its operations has been weak overall.”

Barclays PLC (LON:BARC) was downgraded by analysts at UBS AG to a neutral rating. They currently have GBX 280 ($4.59) target price on the stock, down from their previous target price of GBX 295 ($4.84).

Black Diamond (NYSE:BDE) was downgraded by analysts at Needham & Company from a strong-buy rating to a buy rating. The firm currently has $15.00 target price on the stock, down from their previous target price of $18.00. The analysts wrote, “BDE reported preliminary 4Q revenue results that were below our estimates and Street expectations. Guidance for 2014 also came in well below our expectations, with management calling for growth of 16-18% YoY. The company had previously hinted that apparel sell-through at ‘large’ retailers was weak but announced that, overall, the apparel launch met internal expectations. Finally, the announcement that BDE is exploring strategic options for Gregory is not unexpected as the company plans to focus on higher growth categories going forward and will likely use any capital for further investment in apparel and POC.”

Dean Foods (NYSE:DF) was downgraded by analysts at Morgan Stanley to an equal weight rating. They currently have $15.00 price target on the stock, down from their previous price target of $19.00. The analysts wrote, “While we had recently grown more cautious on the 2014 outlook, DF provided initial guidance far below our expectations, calling for EPS of $0.73-0.86 (vs. consensus $1.13) and EBITDA of $335-355 MM (down ~10-15%). Key headwinds facing the company during the coming year include Class I milk prices at all-time highs, continued volume declines in 1H, a weak US consumer (SNAP cuts), and a $30 MM step up in incentive compensation.”

Digital Realty Trust (NYSE:DLR) was downgraded by analysts at Morgan Stanley to an overweight rating. Morgan Stanley currently has $73.00 target price on the stock. The analysts wrote, “Digital Realty increased its quarterly dividend by $0.05 suggesting $3.32 annually, a 6.4% increase over 2013′s $3.12. While partially due to one-time gains, the increase also reflects ongoing robust fundamentals and sends a positive message for a stock already yielding 6%.”

European Aeronaut (NASDAQ:EADSY) was downgraded by analysts at UBS AG from a buy rating to a neutral rating.

Ennis (NYSE:EBF) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Ennis (EBF) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and poor profit margins.”

Emcore Corporation (NASDAQ:EMKR) was downgraded by analysts at TheStreet from a hold rating to a sell rating. The analysts wrote, “Emcore Corporation (EMKR) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, poor profit margins and feeble growth in its earnings per share.”

Flotek Industries (NYSE:FTK) was downgraded by analysts at Barrington Research from an outperform rating to a market perform rating.

Flotek Industries (NYSE:FTK) was downgraded by analysts at Iberia Capital from an outperform rating to a sector perform rating. They currently have $25.00 price target on the stock.

Mallinckrodt PLC (NYSE:MNK) was downgraded by analysts at Morgan Stanley from an overweight rating to an equal weight rating.

Performant Financial Corp. (NASDAQ:PFMT) was downgraded by analysts at TheStreet from a hold rating to a sell rating. The analysts wrote, “Performant Financial (PFMT) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and generally high debt management risk.”

Pioneer Natural Resources (NYSE:PXD) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Pioneer Natural Resources Company (PXD) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk.”

ReachLocal (NASDAQ:RLOC) was downgraded by analysts at Craig Hallum from a buy rating to a hold rating. Craig Hallum currently has $13.00 target price on the stock, down from their previous target price of $19.00.

Suncor Energy (NYSE:SU) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Suncor Energy (SU) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we find that the company’s profit margins have been poor overall.”

Turkcell Iletisim (NYSE:TKC) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Turkcell Iletisim Hizmetleri AS (TKC) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.”

Titan International (NYSE:TWI) was downgraded by analysts at TheStreet from a buy rating to a hold rating. The analysts wrote, “Titan International (TWI) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.”

Ventrus Biosciences (NASDAQ:VTUS) was downgraded by analysts at Cantor Fitzgerald from a buy rating to a hold rating.

Ventrus Biosciences (NASDAQ:VTUS) was downgraded by analysts at William Blair from an outperform rating to a market perform rating.

Williams Companies (NYSE:WMB) was downgraded by analysts at Maxim Group from a buy rating to a hold rating. They noted that the move was a valuation call. The analysts noted that the move was a valuation call.

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