Analysts’ downgrades for Wednesday, October 11th:

AGCO Corporation (NYSE:AGCO) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “AGCO’s sales guidance of around $8 billion for 2017, reflects improved sales volumes, positive pricing and acquisition impacts. The company's recent launch of IDEAL will boost its full line of agricultural solution. Further, the expansion of parts distribution center remains a tailwind. Moreover, AGCO will benefit from increased investments through capital expenditures, engineering spend, acquisitions and cost-reduction efforts. The company has a positive record of earnings surprises in recent quarters. However, AGCO's performance is expected to be hurt by weakness in agricultural equipment sector and dismal industry demand. Elevated expenses are also likely to hurt the company's earnings. AGCO’s estimates have been undergoing negative revisions lately. The stock has also underperformed the industry over the past year.”

Agrium (NYSE:AGU) (TSE:AGU) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Agrium has underperformed the industry it belongs to over the last three months. Agrium is still reeling under the effects of the depressed prices of crop nutrients which is expected to continue to weigh on its sales and earnings. Nitrogen and phosphate prices remain under pressure. The crop pricing environment is also expected to remain soft in the near term. The company also faces challenging agriculture market fundamentals.”

BancorpSouth (NYSE:BXS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of BancorpSouth have outperformed the industry over the past six 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. Given a strong balance sheet position, the company has been steadily enhancing shareholders’ value through strategic acquisitions, dividend hikes, share buybacks and excellent expense management initiatives. However, continued pressure on margin due to lower yields is expected to hurt the bank’s bottom-line growth. The company’s exposure to consumer mortgage and commercial real estate loans also continues to be a near-term concern. Further, a stretched valuation indicates limited upside potential for the stock.”

Crescent Point Energy Corporation (NYSE:CPG) (TSE:CPG) was downgraded by analysts at Desjardins from a buy rating to a hold rating.

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Catalyst Pharma expects to report top-line results from its second phase III study of Firdapse for the treatment of Lambert-Eaton myasthenic syndrome (LEMS) in the second half of 2017 and resubmit a new drug application (NDA) before the end of 2017. Earlier in 2016, the company received a refusal to file letter from the FDA in connection with the NDA for Firdapse. The company suffered a setback when it received a refusal to file letter for Firdapse from the FDA. Meanwhile, the company is also developing Firdapse for additional indications. The company’s share price movement shows that the stock has outperformed the Zacks classified Medical-Drugs industry year to date. However,  Catalyst has a limited number of candidates in its pipeline and is highly dependent on Firdapse’s approval for growth.”

DXC Technology Company. (NYSE:DXC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “DXC Technology is a result of merger between CSC and Enterprise Services Division of HPE. We believe that the merger has opened new avenues of growth for the combined company. Recently, DXC expanded its ties with VMware. We believe that the partnership will enable DXC to offer an efficient and improved hybrid IT environment to drive performance. Going ahead, following the footsteps of Computer Sciences, DXC Technology may be seen making strategic acquisitions to strengthen its portfolio, which should drive growth over the long run. Notably, the company has outperformed the industry over the past one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability. Additionally, a challenging macroeconomic situation and uncertain IT spending environment remain other headwinds.”

F5 Networks (NASDAQ:FFIV) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “F5 Networks provides products and services to manage Internet traffic worldwide. Shares of the company have underperformed the industry over the past one year. Cisco Systems is the most significant competitive threat to F5 Networks, given the dominance of the former in the overall networking market. In addition, Citrix, Juniper Networks, Checkpoint Systems, and Barracuda Networks also have strong technology platforms that could pose significant competitive threat on improved execution. Notably, F5 Networks continues to acquire a large number of companies. While this improves revenue opportunities, business mix and profitability, it also adds to integration risks.  Also, a volatile spending atmosphere remains concerns. Nonetheless, we believe that the company’s product refreshes will boost revenues, going forward. Moreover, these initiatives are expected to expand its total addressable market and result in client wins.”

Guidewire Software (NYSE:GWRE) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Guidewire Software, a property and casualty insurance based software solutions provider, reported better-than-expected fiscal fourth-quarter 2017 results. The impressive top and bottom lines were driven by higher service activities, an additional $16.2 million of hosting revenues from ISCS, which the company acquired in February 2017; and certain early payments from term licenses. Notably, regular customer addition via cross-selling of its product suites is a positive. The company’s shift from term license to a cloud-based model is a tailwind for the company in the long run as the industry shifts toward cloud infrastructure. However, the costs related to the shift will put pressure on margins in the near term and affect the top line as term license revenues include advance payments whereas subscription-based revenues are a bit delayed. Nevertheless, the company’s shares have outperformed the industry on a year-to-date basis.”

Himax Technologies (NASDAQ:HIMX) was downgraded by analysts at Mizuho from a buy rating to a neutral rating.

Harley-Davidson (NYSE:HOG) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Harley-Davidson’s shares have substantially underperformed the industry it belongs to, in the last six months. Stiff competition and macro-economic challenges in some regions are expected to continue hurting the company’s sales. Weakness in the Financial Services segment, high raw material costs and manufacturing expenses are other concerns for Harley-Davidson. However, the company has been improving its financial position. Additionally, the company is focused on geographical and product expansion as well as increasing shareholder returns.”

Intesa Sanpaolo SpA (OTCMKTS:ISNPY) was downgraded by analysts at J P Morgan Chase & Co from an overweight rating to a neutral rating.

J.C. Penney Company, Inc. Holding (NYSE:JCP) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “The impact of challenging retail landscape, stiff competition from online retailers and waning store traffic is clearly visible on J. C. Penney’s shares performance that have underperformed the industry in a year. The company has been grappling with dismal comparable sales over the past few quarters. Further, the company’s higher debt level also raises a concern. Nevertheless, in an effort to lure customers and ramp up sales, management has introduced a new loyalty program. These along with remodeling, renovation and refurbishment of stores with special attention on enhancing the reach of national and especially private-label brands looks promising. J. C. Penney is also gradually increasing the count of Sephora stores which is going great business. Of late, estimates have been stable ahead of the company’s third quarter earnings release.”

Macy’s (NYSE:M) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Macy’s waning top and bottom-line performance has been a major concern. As a result, the stock has been hit hard and underperformed the industry in the past six months. Challenging retail landscape, aggressive pricing strategy, waning mall traffic and increased online competition have been major deterrents. Macy’s had warned investors that its margins may continue to feel the pinch. Management now envisions fiscal 2017 gross margin to contract 50–70 bps compared with 60–80 bps viewed earlier due to better-than-expected second-quarter results. However, Macy's continues to project comps on an owned basis to decrease in the band of 2.2–3.3% and sales to decline in the range of 3.2–4.3% in fiscal 2017. Nevertheless, Macy’s has announced slew of measures revolving around stores closures, cost containment, real estate strategy and investment in omnichannel capabilities to improve its performance.”

Milacron Holdings Corp. (NYSE:MCRN) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “For fiscal 2017, Milacron projects organic sales growth of 0–2% and adjusted EBITDA between $219 million and $225 million. The company has a mixed record of earnings surprises in the last few quarters. Milacron's shares have underperformed the industry in the past year. In the Advanced Plastic Processing Technologies segment, pricing pressure remains a headwind. The environment remains somewhat sluggish for equipment spending, and consequently, a significant improvement is not expected very soon. In the past few quarters, Milacron’s pace of margin expansion has decelerated on a year-over-year basis due to the impact of restructuring activities and APPT's investments in its aftermarket business. Milacron's high debt level also remains a concern. Its estimates have gone down lately.”

Momenta Pharmaceuticals (NASDAQ:MNTA) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Momenta’s sales of Glatopa 20mg continue to do well and have captured approximately 40% of the market in the U.S. We are pleased with the company’s efforts to develop biosimilars given the potential in the market with recent approvals. In addition, a potential approval of M923 will boost investor confidence. The company has collaborated with Mylan to develop, manufacture and commercialize six of its current biosimilar candidates. However, the ANDA approval for Glatopa 40mg is contingent on the satisfactory resolution of the compliance observations stated in the warning letter issued by the FDA, resulting in a delay of approval. The warning letter will remain a major over hang on the shares till the issue is solved. Moreover, shares of the company have underperformed the industry in the last six months. The recent FDA approval of Mylan's generic version of Copaxone 40mg led to significant plunge in the share price.”

Manitowoc Company, Inc. (The) (NYSE:MTW) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Manitowoc's second-quarter orders are pegged at $379.5 million, up 9% year over year despite challenging end markets. The overall global market sentiment for lattice boom crawlers and rough-terrain cranes remains soft in the quarter. Demand continues to be muted in the Americas and the Middle East region due to weak rental and used equipment. However, Manitowoc is making significant progress in the implementation of The Manitowoc Way to drive four key strategic priorities – margin expansion, growth, innovation and velocity that will aid it deliver double-digit margin growth in the long term. The company has outperformed the industry year-to-date. Its estimates have gone up lately.”

NEXT (NASDAQ:NXGPF) was downgraded by analysts at Morgan Stanley from an equal rating to a weight rating.

Pfizer (NYSE:PFE) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Pfizer is facing headwinds in the form of genericization of key drugs, lost alliance revenues, pricing pressure and rising competition which is hurting the top-line. Though Pfizer’s growing immuno-oncology portfolio offers strong potential, many of these assets are in early stage of development. Additionally, Pfizer’s shares have underperformed the industry this year so far. Nonetheless, we believe that new products like Ibrance, contribution from acquisitions, cost-cutting efforts and share buybacks should help the company achieve its guidance. Pfizer also boasts a strong pipeline and expects approximately 25 to 30 drug approvals over the next five years, including around 15 products that have blockbuster potential. Bavencio is being considered a key long-term growth driver for Pfizer. The company has a mixed record of earnings surprises in recent quarters. Estimates have remained stable ahead of its Q3 earnings results.”

Richmont Mines (ARCA:RIC) (TSE:RIC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Richmont Mines, Inc. is a gold mining company. It has operations in Quebec, Ontario and Newfoundland and holds interests in the Francoeur Mine, Beaufor Mine and Camflo Mill in Quebec, and the Island Gold Mine in Ontario. Richmont Mines, Inc., formerly known as Ressources Minieres Rouyn Inc., is headquartered in Rouyn-Noranda, Canada. “

Renishaw (NASDAQ:RNSHF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Renishaw plc is an engineering and scientific technology company. Its product includes metrology and inspection equipment, spectroscopy systems and computer aided design and manufacturing systems. Renishaw plc is headquartered in Wotton-under-Edge, the United Kingdom. “

Ramco-Gershenson Properties Trust (NYSE:RPT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Ramco-Gershenson Properties Trust is engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers, regional malls and single tenant retail properties, nationally. “

Red Rock Resorts (NASDAQ:RRR) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Red Rock Resorts manage and own an indirect equity interest in Station Casinos LLC. Station is the provider of gaming and entertainment primarily in Las Vegas, Nevada. Red Rock Resorts is based in LAS VEGAS, United States. “

Revance Therapeutics (NASDAQ:RVNC) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s science is based upon a proprietary TransMTS┬« peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform. “

Ryerson Holding Corporation (NYSE:RYI) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “

Sanderson Farms (NASDAQ:SAFM) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Snderson Farms Inc. is a fully-integrated poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. The company sells ice pack, chill pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms7 brand name to retailers, distributors, and fast food operators principally in the southeastern, southwestern and western United States. “

Sandstorm Gold (NASDAQ:SAND) (TSE:SSL) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Sandstorm Gold Ltd. is a gold streaming company engaged in providing upfront financing for gold mining companies. It focuses on completing gold purchase agreements with gold mining companies that have advanced stage development projects or operating mines. Sandstorm Gold Ltd. is headquartered in Vancouver, Canada. “

Saipem SpA (NASDAQ:SAPMD) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a buy rating to a neutral rating.

Sartorius Ag (NASDAQ:SARTF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Sartorius AG is a pharmaceutical and laboratory equipment supplier. The company manufactures equipment for biomolecular and microbial separations, cell culture, concentration, fermentation and purification. Sartorius AG is headquartered in Goettingen, Germany. “

Societe Generale SA (NASDAQ:SCGLY) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “SOCIETE GENL FR Group is the sixth largest bank in the euro zone. Its business mix is structured around three core businesses: Retail Banking, Asset Management and Private Banking, Corporate and Investment Banking. The Group is implementing a sustainable growth policy based on the selective development of its products and services, a client-focused culture of innovation in its different markets, and sustained organic growth coupled with acquisitions. “

A. Schulman (NASDAQ:SHLM) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Schulman Inc. operates in one industry segment which is the sale of plastic resins to customers who use the products as raw materials in their manufacturing operations. The Company purchases plastic resins and other materials which either can be sold directly to customers or used by the Company in the manufacture of other products for sale to customers. All of the products which the Company sells are used for the same purpose–as raw material to be molded or extruded by the Company’s customers. “

SkyWest (NASDAQ:SKYW) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

Super Micro Computer (NASDAQ:SMCI) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Super Micro Computer, Inc. designs, develops, manufactures and sells energy-efficient, application optimized server solutions based on the x86 architecture. The Company’s solutions include a range of rack mount and blade server systems, as well as components. Supermicro emphasizes superior product design and uncompromising quality control to produce industry-leading serverboards, chassis and server systems. These Server Building Block Solutions provide benefits across many environments, including data center deployment, high-performance computing, high-end workstations, storage networks and standalone server installations. Super Micro Computer sells its server systems and components primarily through distributors, which include value-added resellers and system integrators, and to a lesser extent, to original equipment manufacturers (OEMs). Super Micro Computer, Inc. is headquartered in San Jose, California. “

Summit Therapeutics PLC (NASDAQ:SMMT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Summit Therapeutics PLC is engaged in the discovery and development of drug to treat the fatal muscle wasting disease Duchenne Muscular Dystrophy and infections caused by the bacteria C. difficile. Summit Therapeutics PLC is headquartered in Abingdon, the United Kingdom. “

Smart Sand (NYSE:SND) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Smart Sand, Inc. is a producer of northern white raw frac sand for the oil and gas industry. It offers proppant and related logistics services for oil and gas recovery from unconventional wells. Smart Sand, Inc. is headquartered in the Woodlands, Texas. “

Sun Hydraulics Corporation (NASDAQ:SNHY) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Sun Hydraulics is a leading designer and manufacturer of high-performance, screw-in hydraulic cartridge valves and manifolds which control force, speed and motion as integral components in fluid power systems. The Company sells its products globally through independent distributors. “

SodaStream International (NASDAQ:SODA) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “SodaStream International Ltd. is engaged in the manufacture of home beverage carbonation systems, which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water. The Company develops, manufactures and sells soda makers and exchangeable carbon-dioxide (CO 2) cylinders, as well as consumables, consisting of CO 2 refills, reusable carbonation bottles and flavors to add to the carbonated water. Its products are sold under the brand name SodaStream and Soda-Club. SodaStream’s products are environmentally friendly, cost effective, promote health and wellness, and are customizable and fun to use. In addition, the Company’s products offer convenience by eliminating the need to carry bottles home from the supermarket, to store bottles at home or to regularly dispose of empty bottles. SodaStream International Ltd. is headquartered in Airport City, Israel. “

Seritage Growth Properties (NYSE:SRG) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “

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