Analysts’ downgrades for Tuesday, July 11th:

American Financial Group (NYSE:AFG) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of American Financial outperformed the Zacks categorized Property and Casualty (P&C) industry year to date. The company also witnessed estimates moving north in the last 60 days. American Financial is well poised to benefit from impressive inorganic growth and restructuring initiatives. Better industry fundamentals, with strong pricing and a higher renewal ratio, should drive overall growth. A strong balance sheet, low leverage cost, and disciplined capital management are positives. Based on strong operational performance, the company expects core net operating earnings of $6.20–$6.70 per share in 2017. However, exposure to catastrophe loss is a risk to American Financial’s underwriting results as a soft interest rate environment is on investment.”

Ambarella (NASDAQ:AMBA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Ambarella develops video compression and image processing semiconductors. The company had reported better-than-expected first-quarter fiscal 2018 results. However, the company’s disappointing guidance for the forthcoming quarter makes us increasingly cautious about its near-term prospect. The soft guidance provided by the company may be due to the number of challenges it has been facing. The company faces three main challenges, the risk of losing its largest customer, GoPro; weakness in the drone market and increasing threat from QUALCOMM, which is acquiring NXP Semiconductors to build its presence in the same space. Also, macroeconomic challenges and tepid IT spending remain other near-term concerns. Notably, the stock has underperformed the broader market in the last one year.”

Aon PLC (NYSE:AON) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Aon’s core business strengthening initiatives, efficient capital deployment, strong cash flow position and cost savings from its restructuring programs pave the way for long-term growth. The company divested its non-core HR BPO business to Blackstone. Strong merger and acquisition activities, divestitures and restructuring initiatives position the company favorably for the long run. As a result, the stock has gained 21% year to date compared with 14% increase of the Zacks Insurance Brokerage industry. In addition, the Zacks Consensus Estimate for both 2017 and 2018 have revised upward significantly over past thirty days since it has released strong first quarter results.However, heavy debt burden and associated interest expenses raise concern. Stiff competition, ongoing legal hassles and foreign currency fluctuations remain major headwinds.”

Avon Products (NYSE:AVP) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Avon has lagged the broader industry in the last six months, largely due to its dismal surprise history. The company has posted lower-than-expected bottom-line results for three straight quarters now, with a loss in the last quarter. Avon continues to face lower Active Representatives, though it is on track to improve the same. Estimates have been going down ahead of the second quarter release. The company remains prone to stiff competition, and other macroeconomic hurdles. Further, management expects the second quarter to remain troubled. However, we remain impressed with Avon’s progress with its Transformation Plan, which started its second year, this quarter. The company is on track to generate targeted savings of $230 million in 2017. Also, it is confident of achieving its long-term goals of low-double digit operating margin growth, Active Representatives growth of 1–2% and constant-dollar revenue growth in the mid-single digits.”

Berkshire Hathaway (NYSE:BRK.B) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Berkshire Hathaway have underperformed the Zacks categorized Property and Casualty industry quarter to date. The company witnessed estimates moving south over the last 60 days. Berkshire Hathaway’s exposure to catastrophe losses, Buffett’s succession and huge capital expenses on account of its railroad operations remain headwinds. Capital expenditure for 2017 is estimated to be $6.5 billion in 2017. Nonetheless, Berkshire Hathaway’s inorganic story remains impressive with strategic acquisitions. Continues investment through strategic acquisition testifies confidence in business environment post new President elect. The strong cash position also allows it to make earnings-accretive bolt-on acquisitions. Demand for utilities is expected to be strong in the future and drive earnings growth. A continued insurance business growth fuels increase in float. A sturdy capital level adds to the overall strength as well.”

Boston Scientific Corporation (NYSE:BSX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Over the past one month, Boston Scientific was trading below the Zacks categorized broader Medical Products industry. Adverse foreign exchange continues to pose challenges for Boston Scientific. We are concerned with the company’s recall of one of its prime products, Lotus range of heart devices. Also dull defibrillator sale within core CRM continues to remain a drag for the overall growth. The woes of challenging economy and competitive landscape continue to weigh the stock. However, on the positive side, the company is leaving no stone unturned to strengthen its core businesses and invest in innovations and global markets. The company recently received CE mark for its Vercise Gevia DBS System which is expected to boost its European business. The increased top line guidance for 2017 also buoys optimism.”

Buffalo Wild Wings (NASDAQ:BWLD) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Buffalo Wild Wings’ shares underperformed the Zacks categorized Retail-Restaurants industry year to date. Its earnings and revenues have been mostly missing the Zacks Consensus Estimate in the trailing ten quarters. Estimates have been going down ahead of its Q2 earnings release too.  Moreover, the company’s comps have been under pressure due to the choppy restaurant sales environment, further adding to the woes. Notably, the menu price increases made by the company might affect traffic trends in the near term, thereby further weighing on traffic. Nevertheless, various innovative initiatives undertaken by the company like menu innovation, promotional offerings, roll-out of loyalty program and delivery, enhancement of digital capabilities along with international expansion should aid in sales growth. Still, higher traditional chicken wing prices along with other rising costs are anticipated to keep profits under pressure.”

Bellatrix Exploration (TSE:BXE) (NYSE:BXE) was downgraded by analysts at Canaccord Genuity from a speculative buy rating to a hold rating.

Cogeco Communications (TSE:CCA) was downgraded by analysts at Desjardins from a buy rating to a hold rating. Desjardins currently has C$87.50 price target on the stock, up from their previous price target of C$79.00.

Capital One Financial Corporation (NYSE:COF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Capital One shares have underperformed the Zacks categorized Consumer Loan industry in the last six months. Continuously increasing expenses are likely to hurt the company's profitability, going forward. While the company should continue to benefit from strength in its credit card and online banking businesses as well as an improving interest rate scenario and strengthening economy, deteriorating credit quality remains a major near-term concern. In fact, asset quality is expected to continue to remain under pressure due to losses in the auto portfolio and U.S. card business.”

Salesforce.com (NYSE:CRM) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “The leading CRM platform provider, Salesforce has outperformed the broader market on a year-to-date basis. We consider the rapid adoption of the Salesforce1 Customer Platform to be a positive. Overall, the company’s diverse cloud offerings and considerable spending on digital marketing remain catalysts. Additionally, strategic acquisitions and the resultant synergies are anticipated to prove conducive to growth over the long run. In view of increasing customer adoption and satisfactory performances, market research firm, Gartner, acknowledged Salesforce as the leading social CRM solution provider. We believe that the rapid adoption of Salesforce’s platforms indicates solid growth opportunities in the ever-growing cloud computing segment. However, currency fluctuations and stepped-up investments in international expansions and data centers could impact near-term results.”

Walt Disney Company (The) (NYSE:DIS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Disney shares have underperformed the industry in the past three months, primarily due to ongoing concerns regarding ESPN future. Further, the recent news of the decline in rating at the company’s youth-focused Disney Channel may hurt the stock further. Over the past few quarters, ESPN has been a hot topic and investors are closely monitoring its performance. Identical to performances in the past few quarters, ESPN disappointed in the second quarter again. Disney stated that mobile apps will play an important role in the future of media and ESPN is on the way of taking the advantage of the trend with wide range of apps. Moreover, to bring ESPN back on growth track the company has inked a deal with video streaming, data analytics as well as commerce management company BAMTech. However, movie and its Parks & Resorts business bode well. The studio will continue its success as it boasts of an impressive lineup of big budget movies.”

First Horizon National Corporation (NYSE:FHN) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “First Horizon’s shares have underperformed the Zacks categorized Southeast Banks industry over the last one year. Higher legal costs resulting from numerous litigations are likely to weigh on the company’s profitability. However, the company’s focus on cost control and efforts to strengthen its core Tennessee banking franchise bodes well for the long term growth. Further, the recent interest rate hikes by the Fed has eased the pressure on margin to some extent. Moreover, though lesser regulations on lending and capital levels are not expected any time soon, they are likely to reduce costs of compliance significantly and allow banks to grow lending.”

Twenty-First Century Fox (NASDAQ:FOXA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Twenty-First Century Fox have underperformed the industry in the past three months. The company’s proposed acquisition of remaining 61% stake in Sky plc hit a roadblock after U.K. government 'minded' to refer the deal for second phase of review to Competition and Markets Authority. Meanwhile, increase in cost at Cable Network Programming and back-to-back revenues miss has been worrying investors. Management expects costs at Cable Network to go up in fiscal 2017. However, on the earnings front the company’s continues to impress investors with four straight quarter of earnings beat, as it reported third-quarter fiscal 2017 results. Earnings were driven by robust performance of Cable Network Programming and Television. Moreover, in the first, second and third quarter of fiscal 2017, bottom line have increased 34.2%, 20.5% and 14.9%, respectively.”

Hill-Rom Holdings (NYSE:HRC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Over the last three months, Hill-Rom is trading above the broader Medical Product industry. Management is currently looking to gain traction in the untapped international market with its efficient international team and organizational realignment. The company also continues to grow on its strategy of product expansion and diversification with recent launch of its surgical beds. We are also looking forward to the company's plan to divest its non-profitable Volker business to focus more on its core arms. Geographically, over the recent past, Hill-Rom consistently posted strong growth in the U.S. and also delivered a solid gross margin. Management’s outlook for 2017 also raises optimism. However, the company has faced difficulties in the Asia-Pacific region of late. Also, with more than 30% sales generating outside, Hill-Rom faces hitch related to adverse currency fluctuations. The highly competitive market is a major concern.”

HSBC Holdings PLC (NYSE:HSBC) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Shares of HSBC have outperformed the Zacks categorized Foreign Banks industry in the last six months. Disposal of unprofitable/non-core businesses should continue to enhance the company's operating efficiency, thereby supporting profitability over the longer term. The company should continue benefitting from its extensive global network, strong capital position and a solid asset growth. However, dismal European economic growth and weak loan demand are expected to lead to muted revenue growth in the quarters ahead. Also, regulatory probes and litigations related to past business mal-practices as well as stringent regulations make us apprehensive.”

Inogen (NASDAQ:INGN) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Over the last three months, Inogen outperformed the broader industry in terms of price. However, rental revenue headwinds are a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments and lower net patient additions. Inogen reported a solid first quarter of 2017, beating the Zacks Consensus Estimate on both the counts. Inogen generates a significant portion of its revenues from the International market. Volatility in foreign exchange rate is expected to mar the company’s top line in the coming quarters. Furthermore, the stock looks a bit overvalued at the moment when compared to the market at large. However, Inogen has provided a positive guidance for full-year 2017. The company’s unique direct-to-customer business model, an innovative product line and growing patient base are key catalysts in our view.”

Lions Gate Entertainment Co. Class A Voting Shares (NASDAQ:LGF.A) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Lions Gate has underperformed the industry in the past one year. In the final quarter of fiscal 2017, the company’s earnings missed the estimate. Further, we noted that following the fourth-quarter results, estimate for both the first quarter and fiscal 2018 have witnessed downward revisions. The company’s EBITDA guidance for fiscal 2018 did not impress investors as it is expected to be at the lower end of the projected long-term growth range of low-to-mid teens. Moreover, fewer movie releases in fiscal 2018 compared with the previous year may hurt the company’s Motion Pictures revenues performance. However, in an effort to maximize return and build a diversified portfolio, the company has been making strategic investments and buyouts, such as that of Starz. The addition of Starz will aid it to become a major player in the TV space and help it to regain lost ground in streaming network.”

LifePoint Health (NASDAQ:LPNT) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “LifePoint Health is well poised to grow over the long term given a number of acquisitions made over the past few years that gives it a strong foothold in the industry. A number of divestures made in recent years have also helped the company focus on growth areas. Its strong balance sheet and consistent increase in operating cash flow enables it to use funds for share buybacks and acquisitions. Its shares have outperformed the Zacks categorized Medical Hospital industry, year to date. A number of headwinds like political uncertainty created by Donald Trump’s decision of ACA repeal, rising level of bad debts and escalating expenses likely have resulted in the underperformance of the shares.”

Marriott International (NASDAQ:MAR) was downgraded by analysts at Zacks Investment Research from a buy rating to a sell rating. According to Zacks, “Marriott has significant international presence and is therefore highly vulnerable to fluctuations in exchange rates. Notably, the company has been witnessing fewer international guests at its U.S. hotels, owing to the stronger dollar. Moreover, lingering political uncertainty in key international markets might continue to restrict its revenue growth. However, Marriot’s earnings have beaten the Zacks Consensus Estimate consistently over the past 12 quarters. Estimates have been stable lately ahead of its second-quarter earnings release. Further, given a strong transient demand along with an improvement in business and leisure travel, Marriott is well-poised to grow in the near as well as long term. Yet, concerns related to RevPAR growth remains a cause of concern. Also, the company may fail to realize the anticipated synergies and benefits if it fails to integrate Starwood acquisition in an efficient and effective manner.”

Moody’s Corporation (NYSE:MCO) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Moody’s have underperformed the Zacks categorized Miscellaneous Financial Services industry, in the last one year. While we are optimistic about the company’s prospects given its diverse operations, strong balance sheet position and dominant position in the credit rating industry, the uncertain macro environment is expected to adversely impact the volume of debt securities issued in globally and the demand for credit ratings. Also, stricter regulatory landscapes, mounting expenses, stiff competition across the credit rating industry and litigations issues remain other major near-term concerns.”

Altria Group (NYSE:MO) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Altria have underperformed the Zacks categorized industry in the last six months, mainly due to the declining demand of tobacco. The ongoing anti-tobacco campaigns and price rise to offset the rising taxes have been hurting the demand for tobacco. Moreover, consumers are opting for e-cigarettes or substitutes for cigarettes, in turn affecting the cigarette volume. These factors have hurt the company’s sales for the past few quarters, including the first quarter of 2017. Though Altria gains from strong cigarette pricing and its shift to low-risk, smokeless tobacco is encouraging, but the company continues to feel the pinch of declining cigarette volumes. Estimates have been stable ahead of the company’s second-quarter 2017 earnings release.”

Molina Healthcare (NYSE:MOH) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Molina Healthcare suffers from rising medical care costs along with acute dependence on debt financing that has resulted in higher interest expenses draining the bottom line. Donald Trump’s decision of replacing the ObamaCare Act has resulted in an uncertain future of health care sector. The Zacks Consensus earnings estimate for both 2017 and 2018 has declined significantly over past 90 days. However, year to date, the shares gained 29% outperforming the Zacks classified Health Maintenance Organization that increased 21%. The company has been witnessing steady increase in premiums and service revenues over the past several quarters. Its several inorganic growth initiatives have paid off well. It will release the second quarter results On Aug 2, 2017. The Zacks Consensus Estimate is pegged at $0.86 for the second quarter reflecting a 29% year over year growth.”

Morgan Stanley (NYSE:MS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Morgan Stanley's shares have outperformed the Zacks categorized Investment Broker industry, over the last six months. However, the company’s higher dependence on trading revenues remains a major concern. Trading revenues are anticipated to be weak in the coming quarter due to lower client activity and this could hurt the company’s top line growth in the near-term. Nevertheless, the company’s efforts to offload its non-core assets to lower balance sheet risk should lead to improvement in profitability.”

Mettler-Toledo International (NYSE:MTD) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Mettler-Toledo is a worldwide analytical instruments provider. Over the last one year, the stock has outperformed the Zacks Instruments – Scientific industry. We remain positive about the company’s Stern Drive program aimed at operational improvement through material cost reductions, shop floor productivity and back office productivity. We expect this program to complement existing Spinnaker and Blue Ocean programs and enhance supply chain and manufacturing efficiencies. Going forward, Mettler-Toledo’s leading market position, focus on product development and cost reduction, sales and marketing efforts and operational excellence programs are positives. However, seasonality, volatility in emerging market growth, foreign exchange risk and business concentration in China remain overhangs.”

Netflix (NASDAQ:NFLX) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Netflix will continue to benefit from its focus on original programming and international expansion. Netflix added 4.95 million subscribers in the last reported quarter, taking the total count to 98.75 million. Going ahead, the company expects to add 0.60 million subscribers in the domestic streaming segment and 2.60 million subscribers in the international segment in the second quarter. The company’s efforts to attract viewers through investing in more regional programming should also boost user base. In the past one year, Netflix shares outperformed the Zacks categorized Broadcast Radio/TV industry. But, investments in original/acquired content remain a drag on profitability. We believe that Netflix’s ability to effectively manage costs will dictate its future prospects. Estimates have remained stable ahead of the upcoming earnings release. “

Newell Brands (NYSE:NWL) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Newell Brands outperformed the Zacks categorized industry in the last three months on the back of its splendid earnings surprise history. Notably, Newell has delivered positive earnings surprise for almost seven years now. Further, the company remains on track with its Project Renewal Program, which is likely to generate annual cost savings of nearly $700 million by 2017 or early 2018. The company has also made significant progress on its Growth Game Plan that targets accelerating growth by simplifying and strengthening its portfolio. Also, the company’s recent dividend hike and raised normalized earnings guidance for 2017 reflect confidence in future prospects. However, the company’s significant global presence exposes it to currency woes, and any further prevalence of these headwinds in the future is likely to hurt results. Estimates have been stable ahead of the company's second quarter earnings release.”

Office Depot (NASDAQ:ODP) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Office Depot has undertaken a strategic review of its business operating model, growth prospects and cost structure to bring itself back on the growth trajectory. These helped the stock to outpace the industry in the past six months and post third straight quarter of earnings beat, as it reported first-quarter 2017 results. The company is also closing underperforming stores, reducing exposure to higher dollar-value inventory items, concentrating on e-Commerce platforms as well as focusing on providing innovative products and services. However, persistent weakness in the office products sector, technological advancements and stiff competition from online retailers are weighing on the company’s top line. Management anticipates total sales to be lower in 2017 versus 2016 due to store closures, tough market conditions and losses of contract customers in the prior year. However, the rate of decline is expected to decelerate sequentially.”

ON Semiconductor Corporation (NASDAQ:ON) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “ON Semi's Fairchild acquisition has helped the company to grab a dominant position in the power semiconductor market with a planned focus on smartphone, automotive and industrial end markets. Additionally, higher synergies from the Fairchild acquisition along with improving operating leverage will boost profitability. We note that automotive present significant growth prospects given strong demand for ADAS related applications. Moreover, the company’s plan to sell products (like power modules) from consumer end-market to industrial applications end-market will boost margins and revenues in the long term. Meanwhile, estimates have been stable lately ahead of the company's Q2 earnings release. The company has mixed record of earnings surprises in recent quarters. However, On Semi has underperformed the broader market on a year-to-date basis, primarily due to modest results. Moreover, leveraged balance sheet remains a concern.”

The Priceline Group (NASDAQ:PCLN) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Priceline.com is one of the leading online travel companies in the world.  The company reported strong first quarter results. Over the last one year, the stock has underperformed the Zacks characterized Electronic Commerce industry. Both agency and merchant businesses showed strong momentum. The secular growth trend in the online travel booking market, Priceline’s strong position in international markets, growth opportunities in the domestic market, good execution, prudent marketing strategy and strong financial position are positives. At the same time, weaker ADRs, macro headwinds, increasing advertising spend and occupancy tax-related litigation remain overhangs.”

Public Storage (NYSE:PSA) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Public Storage underperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. Notably, there is softness in demand, with customers remaining under stress due to the current economic environment. Also, supply has been rising in a number of markets and this adversely affects the company’s pricing power. Rate hike adds to its woes. Moreover, late in April, the company delivered a lower-than-expected performance for first-quarter 2017. However, Public Storage is a recognized and established name in the self-storage industry in the U.S., and its acquisition and expansion efforts look encouraging.”

Restoration Hardware Holdings (NYSE:RH) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Although RH’s shares have outperformed the Zacks categorized Retail-Home Furnishings industry so far this year, estimates for the current year and next have moved down by 18.6% and 15.8%, respectively, over the last 60 days. RH has plans to rationalize product offering, reduce inventories and boost free cash flow that will drive revenues and cash flow in 2017. However, this is expected to dent earnings in 2017. Also, the uncertain macro environment raises concern given RH’s higher dependence on foreign manufacturing and imports. Notably, the company sourced approximately 88% of its merchandise from outside the U.S. in fiscal 2016.”

Shutterfly (NASDAQ:SFLY) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Shutterfly’s focus on improving operational efficiency through major restructuring bodes well in the long term. Continual product innovations and focus on improving technology-related offerings are to be solid growth drivers. The Shutterfly 3.0 initiative under which it aims to create a platform and device-agnostic memory management and personalized e-commerce solution, bodes well. Notably, it has a mixed record of earnings surprises in the recent quarters and estimates are mostly stable ahead of its Q2 earnings release. Yet, Shutterfly is likely to incur huge restructuring costs in 2017 and revenue growth is expected to be very slow in the year. A rise in manufacturing, labor and training costs could weigh on margins. The company’s revenues are susceptible to travel industry and consumer spending trends, which raises concern. Also, its shares have underperformed the Zacks classified Internet Content industry in the year to date.”

Simon Property Group (NYSE:SPG) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. Also, the company’s second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved south over the past 30 days. Notably, mall traffic has continued to suffer amid a rapid shift in customers’ shopping preferences and patterns with online purchases growing by leaps and bounds, leading retailers to reconsider their footprint and eventually opt for store closures. Further, retailers that are not being able to cope with competition are filing bankruptcies. While Simon Property is striving to counter the pressure through various initiatives, the implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Also, rate hike have added to its woes.”

Sysco Corporation (NYSE:SYY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Although shares of Sysco have declined over the last one year due to macro headwinds, the drop is narrower than the industry owing to its strong fundamentals. In fact, the company commands a solid business portfolio that serves the customers across a wide array of business segments. Also, Sysco’s efforts to boost sales and margins are paying up, as the company has delivered positive gross margins in the last eight consecutive quarters, after declining since past several quarters. Further, it is taking various initiatives to reduce costs, along with boosting supply chain area. Meanwhile, its buyouts are helping to strengthen customer base and drive growth. However, the company remains concerned about the deflationary trend that is likely to continue in fiscal 2017, along with stiff competition and promotional environment. Further, management anticipates continued industry softness and challenging year-over-year comparisons in the second half.”

Taubman Centers (NYSE:TCO) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Over the last three months, Taubman’s shares underperformed the Zacks categorized REIT and Equity Trust – Retail industry. Also, its second-quarter 2017 funds from operations (FFO) per share estimate moved south, over the past 30 days. Admittedly, with a rapid shift in customers’ shopping preferences and growing online purchases, mall traffic continues to suffer. This has emerged as a pressing concern for retail REITs like Taubman. Also, hike in interest rates and unfavorable foreign currency movements increase its risks. Nevertheless, the company boasts a well-positioned portfolio and high-quality tenant roster of national retailers. It is also focused on expansion and development of properties in major submarkets, which augur well for long-term growth.”

First Financial Corporation Indiana (NASDAQ:THFF) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “First Financial Corporation is a multi-bank holding company. Subsidiaries include Terre Haute First National Bank, First State Bank, First Citizens State Bank of Newport, First Farmers State Bank, First Ridge Farm State Bank, First National Bank of Marshall, First Crawford State Bank, and the Morris Plan Company. “

TICC Capital Corp. (NASDAQ:TICC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “TICC Capital Corp. is a business development company primarily engaged in providing capital to technology-related companies. TICC concentrates its investments in companies having annual revenues of less than two hundred million dollar and/or a market capitalization or enterprise value of less than three hundred million dollar, with a focus on businesses. “

Tiffany & Co. (NYSE:TIF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Tiffany has underperformed the industry in the past one month. Analysts remained concerned about the company’s top line performance that inched up 1% in the first quarter of fiscal 2017 but lagged the estimate. Sturdy sales performance in Asia-Pacific was largely offset by softness witnessed in Japan, Americas and Europe. Particularly, performance in the Americas and Europe unveils a dismal picture. Sales in Americas and Europe have declined for five straight quarters now with 3% drop recorded for each region in the first quarter. Moreover, a mature domestic market, foreign currency headwinds and cautious consumer spending remain causes of concern. Nevertheless, the company is focusing on omni-channel platform, store expansion, tapping of new markets and venturing into new revenue generating areas. Management projects mid-single-digit-percentage rise in earnings and low-single-digit percentage growth in net sales in fiscal 2017.”

TJX Companies, Inc. (The) (NYSE:TJX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of TJX Companies have been declining since past six months. Though the decline has been narrower than the Zacks categorized industry’s decline, we note that the company faces margin pressure due to higher payroll and pension related costs since past many quarters. Hike in wages of all full and part-time hourly U.S. store associates have further pressurized margins. Though TJX Companies has been striving hard to improve its performance and has been working on store expansion and brand enhancing initiatives, we believe incremental investments, additional supply chain costs and pension costs will continue to hurt margins in the coming quarters. The company’s off-price retail nature also limits its ability to raise prices. Considerable degree of international presence also makes it susceptible to currency headwinds. Moreover, lack of exposure in the developing markets deprives it of the benefits of high growth opportunities.”

TripAdvisor (NASDAQ:TRIP) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “TripAdvisor is one of the largest online travel research companies in the world. The company's first quarter earnings and revenue missed the Zacks Consensus Estimate. Also, over the last one year, the stock has underperformed the Zacks characterised Electronic Commerce Industry. However, the secular growth trend in the online travel space, the company’s solid fundamentals, growth initiatives, partnerships to boost hotel bookings, strong focus on developing its mobile products, expansion into the international restaurant reservation space and improvement in user growth and engagement, especially related to mobile devices are likely to help the company to achieve desired results. Macro headwinds, increasing competition and uncertainty regarding the timeline for recovery of investments remain overhangs.”

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