Stock Analysts’ Downgrades for October, 12th (AGTC, ALGN, AYI, BHP, BOLD, CUZ, RIO, SAM, SRE, TEVA)
Applied Genetic Technologies Corp. (NASDAQ:AGTC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida. “
Align Technology (NASDAQ:ALGN) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Align Technology ended the second quarter 2016 on a promising note, squarely beating the Zacks Consensus Estimate. We are also upbeat about the persistently strong Invisalign volumes registered by the company, which in turn drove the top and the bottom line during the quarter. The company also has a strong cash balance position that enables it to adopt attractive share repurchase programs and in turn pay back solid returns to its investors. Going forward, management anticipates consistent growth in its Asia Pacific region, which in turn will mitigate the typical seasonality it usually experiences in the European nations. On the flip side, competitive landscape and ongoing macroeconomic headwinds continue to cast a negative impact on dental procedures.”
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/stock-analysts-downgrades-for-october-12th-agtc-algn-ayi-bhp-bold-cuz-rio-sam-sre-teva.html
Acuity Brands (NYSE:AYI) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Acuity Brands, Inc. is comprised of the Acuity Lighting Group and Acuity Specialty Products. The Acuity Lighting Group is the world’s largest lighting fixture manufacturer and includes brands such as Lithonia Lighting, Holophane, Peerless, and Hydrel. Acuity Specialty Products is a leading provider of specialty chemicals and includes brands such as Zep, Enforcer, and Selig. “
BHP Billiton (NYSE:BHP) was downgraded by analysts at Citigroup Inc. from a neutral rating to a sell rating.
Audentes Therapeutics (NASDAQ:BOLD) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “
Cousins Properties (NYSE:CUZ) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Cousins completed the previously announced merger with Parkway Properties Inc. It also spun-off the Houston-based assets of the combined company into a publicly-traded REIT. This move is a strategic fit as it allowed the company to not only boost its portfolio with premium properties, but also exit the Houston office market crippled by the decline in oil prices. But, the company faces intense competition from developers, owners and operators of office properties and other commercial real estate which affects its ability to attract and retain tenants at relatively higher rents than its competitors. Moreover, pressure on top line and any rise in interest rate are concerns before the company.”
Rio Tinto PLC (NYSE:RIO) was downgraded by analysts at Citigroup Inc. from a neutral rating to a sell rating.
Boston Beer (NYSE:SAM) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Boston Beer is facing a tough time due to troubles at its Samuel Adams brand, which has been up against severe competition in the craft beer market, and a weakness in the cider class. This resulted in soft depletion trends and lower shipments in second-quarter fiscal 2016. Taking into account the first-half trends, the company lowered its earnings and depletions outlook for 2016. Also, Boston Beer remains vulnerable to the potential implementation of an excise tax on spirits. However, we believe Boston Beer’s practice of acquiring assets to expand geographically will help it to gain significant market share. Also, the company’s brand-building efforts and initiatives to add new products to its portfolio remain key revenue drivers. Management’s plan of aligning cost structure with volumes should also enhance performance. Estimates have been largely stable going into the third quarter earnings release.”
Sempra Energy (NYSE:SRE) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Sempra Energy continues to face headwinds in the form of stringent government regulations and operational risks. Further it is exposed to foreign currency risks because of its international presence and has to invest substantially to expand its operations. Also a few pending regulatory cases for Sempra Energy’s regulated utilities are subject to approvals by regulatory bodies. Any adverse decision in the upcoming General Rate Case and Cost-of-Capital proceedings will substantially affect its utility earnings. However, the company’s future cash inflow will likely get tailwinds from LNG development prospects and renewable expansion. Steady focus on the expansion of its renewable capacity will enable the company to provide emission-free power to its customers. It is also confident of attaining 12% earnings CAGR through 2020 backed by these factors.”
Teva Pharmaceutical Industries (NYSE:TEVA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Although Teva is working on the integration of Actavis Generics and progressing with its branded pipeline, headwinds persist in the form of generic competition for Copaxone, as well as competition for branded products. Meanwhile, the generics segment could remain under pressure due to pricing erosion as well as the absence of important new product launches. However, the Actavis Generics acquisition will help Teva strengthen its position in key generic markets. Teva continues to progress with its branded and generics drugs pipeline and is looking to strengthen its biosimilar pipeline. Meanwhile, Teva intends to accelerate growth platforms, protect and expand core franchises, expand its global presence, pursue strategic deals and reduce the cost base. Estimates have been going down ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
Tesla Motors (NASDAQ:TSLA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Tesla’s estimates have been going down lately. The company has a negative record of surprises in recent quarters. After missing delivery targets in the first two quarters, Tesla significantly increased production and delivery volumes in the third quarter. The company expects to marginally increase production and delivery volume in the fourth quarter. As a result, volumes are expected to be very close to the target of 50,000 units for the second half. Tesla faces numerous headwinds, including continuous losses, high expenses and production constraints. Moreover, SolarCity’s high debt and cash outflows are concerns regarding the merger.”
Receive News & Ratings for Applied Genetic Technologies Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Genetic Technologies Corp and related companies with MarketBeat.com's FREE daily email newsletter.