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Dreamworks Animation Skg (NASDAQ:DWA) was downgraded by equities research analysts at Bank of America to an “underperform” rating in a research note issued to investors on Monday, AnalystRatingsNetwork reports.

Dreamworks Animation Skg (NASDAQ:DWA) traded down 1.38% during mid-day trading on Monday, hitting $26.49. 1,481,089 shares of the company’s stock traded hands. Dreamworks Animation Skg has a 52 week low of $19.00 and a 52 week high of $36.01. The stock’s 50-day moving average is $27.1 and its 200-day moving average is $31.1. The company has a market cap of $2.240 billion and a P/E ratio of 41.32. Dreamworks Animation Skg also was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 10,293,876 shares, a drop of 12.2% from the March 31st total of 11,723,226 shares. Based on an average daily volume of 1,086,764 shares, the days-to-cover ratio is presently 9.5 days. Approximately 15.6% of the company’s stock are sold short.

A number of other firms have also recently commented on DWA. Analysts at Cowen and Company cut their price target on shares of Dreamworks Animation Skg from $35.00 to $21.00 in a research note on Monday, March 10th. Separately, analysts at B. Riley cut their price target on shares of Dreamworks Animation Skg from $37.00 to $32.00 in a research note on Monday, March 10th. They now have a “buy” rating on the stock. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Dreamworks Animation Skg in a research note on Tuesday, March 4th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Dreamworks Animation Skg has an average rating of “Hold” and a consensus target price of $23.75.

DreamWorks Animation SKG, Inc (NASDAQ:DWA) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets.

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