Investment Analysts’ downgrades for Tuesday, October 10th:

ABIOMED (NASDAQ:ABMD) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Over the last six months, Abiomed has been trading above the broader industry. Management expects that robust demand for the Impella product line will continue to drive Abiomed’s top line. The company’s expanding product portfolio will improve penetration into both the prophylactic high-risk PCI and cardiogenic shock patient market. This is evident from the fact that both Impella 2.5 and CP continue to add centers in the U.S. The company also announced the successful launch of the Abiomed Impella Quality Program in fiscal 2017 to improve clinical outcomes. Also, cost-savings efforts remain encouraging. Furthermore, a rising estimate revision trend for the current year indicates a pocket of opportunity for the stock. However, intensifying competition in the niche markets is likely to mar prospects over the long haul.”

Allstate Corporation (The) (NYSE:ALL) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Allstate have underperformed the industry in last six months. The company is faced with exposure to catastrophe losses, owing to its large property insurance business, which imparts volatiliy to its earnings. Its underperforming brand Encompass is another drag. The company is poised to grow on the back of its well-performing property and liability segment. A number of initiatives undertaken to improve profitability in the auto segment will drive long-term growth. A strong balance sheet and intelligent capital management are the other positives. The acquisition of SquareTrade will diversify the company's operations.”

Affiliated Managers Group (NYSE:AMG) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Affiliated Managers’ shares have outperformed the industry, over the last three months. This was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company remains well positioned for growth based on successful partnerships, a diverse product mix and initiatives undertaken to strengthen its retail market operations. Further, inflows are expected to get impetus with broad distribution across channels and product category. However, pressure on revenue growth and higher debt levels remain major near-term concerns. Also, higher intangibles in the balance sheet will likely adversely impact profitability.”

BB&T Corporation (NYSE:BBT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “BB&T’s shares have outperformed the industry over the past three months. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Strategic acquisitions are persistently supporting the company expand footprint as well as fuel additional profitability and consistent growth in loans and deposits along with higher rates should further lead to an increase in revenues. Nevertheless, escalating costs owing to acquisitions and subsequent integrations are expected to hurt the bank’s bottom-line growth. The company’s exposure to risky loans also continues to be a near-term concern. Further, a stretched valuation indicates limited upside potential for the stock.”

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 industry year to date. Its earnings and revenues have been mostly missing the Zacks Consensus Estimate in the trailing 11 quarters. Moreover, comps have been under pressure due to the choppy restaurant sales environment. 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 like menu innovation, promotional and value offerings, roll-out of loyalty program and delivery, enhancement of digital capabilities along with international expansion should aid in sales growth. The move to try small, fast food style stores given consumers inclination toward to-go and in-home dining experiences also bodes well. Still, higher traditional chicken wing prices along with other rising costs are anticipated to keep profits under pressure.”

Cardiovascular Systems (NASDAQ:CSII) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Cardiovascular Systems has already commenced the process of seeking approval for commercial sales in both Europe and Japan. In the event that the company fails to successfully enter international markets and manage business on a global scale, it might negatively affect Cardiovascular Systems’ financial results. Also, the company witnessed a net loss in the last reported quarter. Moreover, stiff competition adds to the woes. On a positive note, over the past year, Cardiovascular Systems has been trading above the broader industry. Cardiovascular Systems delivered remarkable fourth-quarter 2017 results. Moreover, the improvement in margins is encouraging. Overall, the company’s’ fiscal 2017 performance has been impressive. The company’s fiscal 2018 guidance also instils confidence in investors. It received FDA approval for radial access Diamondback 360 Peripheral Orbital Atherectomy Device.”

Duke Realty Corporation (NYSE:DRE) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of Duke Realty have outperformed the industry it belongs to, year to date. However, the Zacks Consensus Estimate for full-year 2017 funds from operations (FFO) per share remained unchanged in a month’s time. Amid an e-commerce boom, demand for industrial real estate is increasing. Subsequently, the company’s properties in Cincinnati enjoyed solid demand, with the company leasing more than 1.1 million square feet of space during third-quarter alone. Moreover, Duke Realty’s Tampa Regional Industrial Park 13111 has also attracted leases for 274,085 square feet of space. Further, the company made concerted efforts to turn into a leading domestic pure play industrial real estate investment trust (REIT) with the sale of its medical office portfolio. However, asset dispositions are anticipated to have a dilution effect on earnings. Also, rate hike adds to its woes.”

Brinker International (NYSE:EAT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Brinker’s shares have underperformed the industry year to date. Notably, the company’s revenues missed the Zacks Consensus Estimate in eight of the trailing ten quarters, mainly due to traffic decline at its restaurants. The company’s presence in energy-exposed markets, where the economy is currently sluggish due to the persistent decline in oil prices, may continue to hurt traffic. Nevertheless, the company’s aggressive expansion strategies, sales building initiatives should boost comps. Also, various operational, remodeling and digital initiatives are expected to drive growth. Yet, higher labor and costs related to initiatives might continue to hurt margins in the near term. Additionally, a slowdown in some of the international markets that the company operates in and overall choppiness in the restaurant space might also keep on pressurizing comps in the coming quarters.”

First Data Corporation (NYSE:FDC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “First Data Corporation  is a commerce-enabling technology and solutions company. The company's second-quarter 2017 earnings matched the Zacks Consensus Estimate and increased year over year. First Data’s focus on globalizing its offerings, acquisitions and strategic partnerships and a healthy business around large and small banks are positives. However, the company is subject to seasonality and foreign exchange risk and has no intention of paying cash dividend at present. Year to date, the stock has outperformed the  industry it belongs to. “

GoDaddy (NYSE:GDDY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “GoDaddy is a website host and Internet domain registrar. In the second quarter, the company posted strong results with both revenues and earnings beating the Zacks Consensus Estimate. The increase in earnings was driven by growing revenues, strong adoption of its new products, including its new mobile-optimized website builder, GoCentral and contribution from HEG acquisition. The company’s investment in products, technology platform and customer care, as well as offering innovative and increasingly personalized products and services globally will drive shareholder value. However, significant competition, heavy debt burden along with controversies surrounding the company will pose major challenges. Over the last one year, the stock has outperformed the industry it belongs to.”

Iron Mountain (NYSE:IRM) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Iron Mountain's aggressive acquisitions along with diversified revenue base, a strong product portfolio and cost cutting initiatives bode well for long-term growth. Notably, Iron Mountain has outperformed the industry it belongs to in the past one year. The company also is investing a lot in setting up its data center business. The company's recent announcement to acquire Credit Suisse data centers in London and Singapore will help it gain ground in the international markets. It also recently acquired FORTRUST for $128 million. However, the company's highly leveraged balance sheet is a concern. The company’s services business revenues also remain modest. Besides, forex fluctuations, fragmented nature of the industry and stiff competition continue to be overhangs.”

Allscripts Healthcare Solutions (NASDAQ:MDRX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Over the last year, Allscripts has traded below the broader industry in terms of price. Allscripts exited the second quarter on a favorable note, wherein adjusted earnings were in line with the Zacks Consensus Estimate, while revenues beat the same. A solid guidance for full-year 2017 and a strong long-term outlook are the key highlights at the moment. Allscripts announced its plans to takeover the hospital and health system business from McKesson Corporation, which is expected to close by the fourth quarter. Allscripts’ continued reliance on mergers and acquisition activities presents a substantial integration risk for the company. Furthermore, intensifying market competition is a major dampener for Allscripts. The company also expects a modest increase in operating expenses during the second half of the year to support business growth.”

Mohawk Industries (NYSE:MHK) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Mohawk’s shares have underperformed its industry in the last six months.  Earnings estimate for the current quarter and year have also declined by 0.5% and 0.1% respectively, over the last 30 days. Currency translation is a major concern as Mohawk generates almost one-third of its revenues from customers outside the United States. Currency headwinds hurt sales in 2016 by $69 million and in 2015 by $490 million. Despite the fact that the unfavorable currency impact has lessened, and is expected to improve through the rest of 2017, the net impact of currency headwinds still remains significant. Though, the company is currently exploring numerous investment options for expansion, including Greenfield opportunities and acquisitions to broaden its geographic presence and product portfolio, we await better visibility.”

Model N (NYSE:MODN) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Model N is a leading provider of revenue management solutions primarily to life sciences and high technology companies. The company continues to win deals in these segments that will drive top-line growth. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. Notably, estimates have been stable ahead of the company's fourth-quarter results. The company has positive record of earnings surprises in the recent quarters. We note that the company has outperformed the industry on a year-to-date basis. However, lack of international customers, mounting operating loss, continuing cash burn and stretched valuation are major headwinds.”

ON Semiconductor Corp (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. Further, a diversified customer and product base coupled with improving end-markets has insulated the company against certain end-market and geographical demand volatility. Lower customer and product concentration risk is therefore a positive for its top line. Moreover, growing demand and greater adoption of CMOS image sensor business and ADAS related applications have given ON Semi a significant growth opportunity in the automotive market. Further, On Semi has outperformed the industry on a year-to-date basis. Meanwhile, estimates have been stable lately ahead of the company’s Q3 earnings release. However, leveraged balance sheet remains a concern.”

Shutterfly (NASDAQ:SFLY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shutterfly shares have underperformed its industry in the past year. Though the company has a mostly positive record of earnings surprises in recent quarters, estimates have moved slightly down ahead of its third-quarter release. Notably, Shutterfly is expected to incur huge restructuring costs in 2017 and revenue growth is expected to be very slow throughout the year. Though restructuring bodes well for the company in the long run, 2017 is set to be a transition year for them, with different brands transitioning over the first three quarters. Further adding to concerns is that Shutterfly’s business is highly seasonal and is susceptible to travel industry and consumer spending trends. Nevertheless, product innovations and improving technology-related offerings are expected to drive growth. The Shutterfly 3.0 initiative bodes well too. However, a rise in manufacturing, labor and training costs is likely to weigh on margins.”

Molson Coors Brewing (NYSE:TAP) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Molson Coors have declined and underperformed the industry in the past six months. Though the acquisition of the Miller global brands has boosted sales in Europe and international regions, volume continued to decline in Canada. Sales in Canada have been negatively impacted by an overall weak industry performance, ongoing competitive pressures in Quebec and Ontario, along with a continued shift in consumer preference to value brands in the West. In fact, aging population, a stalled economy and stiff competition have been the main contributors to the declining state of the beer industry. However, the company is, therefore, focusing on above-premium brands to help grow its market share. Though the company has been undertaking restructuring initiatives, its dismal performance suggests trouble down the road. Estimates have recently declined ahead of the company’s third-quarter 2017 earnings release.”

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 second-quarter results were driven by strong growth in the company’s Click-based and Hotel segment revenue. On a year-to-date basis, the stock has underperformed the Industry to which it belongs to. 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.”

Twitter (NYSE:TWTR) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Twitter shares have underperformed the broader market in the past one year.  Lack of revenue diversification is a major concern for the company.  Slowdown in its user base and revenues coupled with its continuing investments on product development, costs related to international expansion and higher sales & marketing expenses is hurting profitability. Moreover, increasing competition and stringent regulations for social media platforms continue to be overhangs. However,  to boost user growth rate and engagement levels, Twitter remains focused on “live” and betting big on Periscope. It is now exploring beyond just news, and the series of live streaming deals are a step in that direction.”

UnitedHealth Group (NYSE:UNH) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Shares of UnitedHealth Group has outperformed the industry in last one year. Its  robust Government business and continued strong growth at Optum are driving long-term growth. Its international business, growing membership and strong capital position are the other positives. In the most recently reported quarter, the company reported better-than-expected earnings, driven by an increase in revenues and membership. Encouraged by its impressive first-half earnings, the company raised the 2017 guidance. Nevertheless, the company has reduced its exposure to the troubled public exchange business. Though this move will shield it from losses in this business, premium revenues are likely to be affected. Charges related to Penn Treaty are also causes for concern.”

Volkswagen AG (NASDAQ:VLKAY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “VOLKSWAGEN-ADR is the largest automobile manufacturer in Europe. Their activities focus on the automotive market and they offer products and services along the entire automotive value chain. With nine independent brands, they are able to offer a unique range of models from the extremely efficient 3-litre car to the great sporting tradition of Bentley. While each of the brands has a distinct personality, it also benefits from its membership of the Volkswagen Group with its global manufacturing base “

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