Equities Research Analysts’ Downgrades for October, 12th (AAL, IFP, TK, TLSYY, TRXC, TS, TSN, TTDKY, TWER, USCR)
American Airlines Group (NASDAQ:AAL) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “American Airlines posted disappointing traffic numbers for the month of September. Load factor declined in the month as the reduction in traffic was greater than the capacity contraction. Moreover, multiple labor deals inked by the company in recent times are expected to hurt its near-term earnings as costs escalate. The carrier expects unit costs for 2016 to increase in the band of 5–7%, on a year-over-year basis. We expect the company’s third-quarter results, which are scheduled to be released on Oct 20, to be hampered by higher costs. Moreover, headwinds like the surge in terror attacks, a weak balance sheet and the uncertainty following Brexit are other challenges faced by the carrier. We are, however, positive on the U.S. DOT's decision to grant American Airlines the permission to initiate commercial flights to Havana.”
Interfor Corp (TSE:IFP) was downgraded by analysts at CIBC from a sector outperform rating to a sector perform rating.
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Teekay Corp. (NYSE:TK) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Teekay Shipping Corporation is a leading provider of international crude oil and petroleum product transportation services through the world’s largest fleet of medium size oil tankers. The Company’s modern fleet provides such transportation services to major oil companies, major oil traders and government agencies, principally in the region spanning from the Red Sea to the U.S. West Coast. “
Telstra Corp. (OTCMKTS:TLSYY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Telstra is Australia’s principal telecommunications company, one of Australia’s largest corporations and one of the best-known brands in the country. Telstra’s fixed telephone network extends across the nation, serving virtually all homes and a substantial majority of Australian businesses. Its mobile networks cover the area in which 91% of Australia’s population lives. “
Transenterix (NASDAQ:TRXC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “TransEnterix Inc. designs, develops and manufactures medical-devices. It offers SPIDER(R) Surgical System, a laparoscopic surgical platform that allows intra-abdominal triangulation procedures to be performed with articulating instruments through a single site. The company is primarily focused on the development and commercialization of SurgiBot, a patient-side minimally invasive surgical robotic system. TransEnterix Inc., formerly known as SafeStitch Medical, Inc., is based in United States. “
Tenaris SA (NYSE:TS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Tenaris Sa, a corporation organized in Luxembourg, is a leading manufacturer and supplier of seamless steel pipe products and associated services to the oil and gas, energy and other industries. Tenaris’s operating subsidiaries include eight established steel pipe manufacturers: AlgomaTubes, Confab, Dalmine, NKKTubes, Siat, Siderca, Tamsa and Tavsa. “
Tyson Foods (NYSE:TSN) was downgraded by analysts at JPMorgan Chase & Co. from a buy rating to a sell rating.
TDK Corp (NASDAQ:TTDKY) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “TDK Corp. has a portfolio of technologies originally developed for its businesses involving electronic materials, components and devices, semiconductor, recording media and data storage devices. Its technical leadership includes materials research and development for dielectric, organic and semiconductor materials, process technologies for thick and thin film, metal, semiconductors and integration technologies. TDK technologies can be found in multimedia, video, television, personal computers, mobile communications, and semiconductors. (PRESS RELEASE) “
Towerstream Corp. (NASDAQ:TWER) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Towerstream is a leading fixed wireless service provider in the U.S., delivering high-speed Internet access to businesses. The company has established pre-WiMAX networks in markets such as New York City, Los Angeles, Chicago, San Francisco, Seattle, Miami, the greater Boston area, and Providence and Newport, RI, and continues to expand coverage throughout the United States. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability. “
U.S. Concrete (NASDAQ:USCR) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
US Foods (NASDAQ:USFD) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “US Foods Holding Corp. is a foodservice distributor. The company serves independent and multi-unit restaurants, healthcare and hospitality entities, government and educational institutions. US Foods Holding Corp. is headquartered in Rosemont, Ill. “
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