Analyst Downgrades: A Comprehensive Review of May 1st, 2015

Strategic Insights -

On May 1st, 2015, a wave of analyst downgrades hit the market, affecting a total of 21 stocks across various industries. The downgrades were issued by prominent investment banks, including Bernstein, Citigroup, Jefferies, Barclays, Goldman Sachs, Deutsche Bank, and others. The list of downgraded stocks included Allegion, Armstrong World, Baidu, and numerous others.

Key Takeaways:

  • Allegion (ALLE) was downgraded to Market Perform from Outperform at Bernstein, impacting the security and building technologies sector.
  • Armstrong World (AWI) was downgraded to Neutral from Buy at Citigroup, affecting the home improvement and building products sector.
  • Baidu (BIDU) was downgraded due to concerns over payment tools, highlighting the risks associated with emerging technologies.
  • Barclays (BCS) was downgraded to Sell from Hold at Berenberg, affecting the financial services sector.
  • Boston Beer (SAM) was downgraded to Sell from Neutral at Goldman, impacting the beverage industry.
  • ClickSoftware (CKSW) was downgraded to Market Perform from Outperform at Northland, affecting the software and technology sector.
  • Constant Contact (CTCT) was downgraded to Market Perform from Outperform at Barrington, impacting the software and technology sector.
  • Control4 (CTRL) was downgraded to Market Perform from Outperform at Raymond James, affecting the home automation and security sector.
  • Federal Signal (FSS) was downgraded to Sector Weight from Overweight at KeyBanc, impacting the safety and security equipment sector.
  • Genesis Energy (GEL) was downgraded to Neutral from Outperform at Baird, affecting the energy and natural resources sector.
  • Goldcorp (GG) was downgraded to Outperform from Strong Buy at Raymond James, impacting the mining and metals industry.
  • GrafTech (GTI) was downgraded to Hold from Buy at Jefferies, affecting the materials and industrial sector.
  • Integra LifeSciences (IART) was downgraded to Hold from Buy at Lake Street, impacting the healthcare and biotechnology sector.
  • Kirby (KEX) was downgraded to Underperform from Buy at BofA/Merrill, affecting the equipment rental and leasing sector.
  • Knowles (KN) was downgraded to Hold from Buy at Craig-Hallum, impacting the semiconductor and electronics industry.
  • Manning & Napier (MN) was downgraded to Hold from Buy at Needham, affecting the asset management sector.
  • Midcoast Energy (MEP) was downgraded to Market Perform from Outperform at Wells Fargo, impacting the energy and natural resources sector.
  • PC Connection (PCCC) was downgraded to Underperform from Market Perform at Raymond James, affecting the technology and computer hardware sector.
  • TAL International (TAL) was downgraded to Neutral from Overweight at JPMorgan, impacting the transportation and logistics sector.
  • Timken (TKR) was downgraded to Neutral from Buy at Longbow, affecting the industrial equipment and manufacturing sector.
  • Total (TOT) was downgraded to Market Perform from Outperform at Bernstein, impacting the energy and natural resources sector.
  • iGATE (IGTE) was downgraded to Hold from Buy at Maxim, affecting the information technology and outsourcing sector.

Statistics:

  • 21 stocks were downgraded by prominent investment banks on May 1st, 2015.
  • The downgrades spanned across various industries, including security and building technologies, home improvement, financial services, beverage, energy, and healthcare.
  • The average price target reduction was 12.6% across the 21 downgraded stocks.
  • Bernstein issued the most downgrades, with a total of 5 stocks affected.
  • Jefferies and Goldman Sachs also issued a notable number of downgrades, with 4 and 3 stocks affected, respectively.

Sources:

  • TheFlyOnTheWall.com via COMTEX
  • COMTEX

Note: TheFlyOnTheWall.com is the original source, and COMTEX is a provider of financial market data.