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Banking industry

Analyst Downgrades: A Summary of Noteworthy Decreases on August 4, 2015

Strategic Insights

— 1 min read

Yesterday, notable downgrades were issued for a range of companies across various industries. The downgrades include: Allstate being moved to Neutral from Conviction Buy at Goldman Sachs, Antero Resources being downgraded to Equal Weight from Overweight at Stephens, and CONSOL being downgraded to Sell from Hold at Deutsche Bank. Additionally, Coca-Cola HBC was downgraded to Sell from Neutral at Goldman Sachs, and Cognex was moved to Hold at Canaccord. Other companies downgraded include ConocoPhillips, Copa Holdings, Cummins, Eclipse Resources, Endologix, Gildan Activewear, HFF Inc., ON Semiconductor, On Deck Capital, PACCAR, Stratasys, TEGNA, TriNet, Virtus Investment, and Xoom.

Key Takeaways:

  • Allstate was downgraded to Neutral from Conviction Buy at Goldman Sachs.
  • Antero Resources was downgraded to Equal Weight from Overweight at Stephens.
  • CONSOL was downgraded to Sell from Hold at Deutsche Bank.
  • Coca-Cola HBC was downgraded to Sell from Neutral at Goldman Sachs.
  • Cognex was downgraded to Hold at Canaccord.
  • ConocoPhillips was downgraded to Perform from Outperform at Oppenheimer.
  • Copa Holdings was downgraded to In-Line from Outperform at Imperial Capital.
  • Cummins was downgraded to Hold from Buy at Evercore ISI.
  • Eclipse Resources was downgraded to Hold from Buy at Deutsche Bank.
  • Endologix was downgraded to Hold at Canaccord.
  • Gildan Activewear was downgraded to Neutral from Outperform at Credit Suisse.
  • HFF Inc. was downgraded to Equal Weight from Overweight at Morgan Stanley.
  • ON Semiconductor was downgraded on macro outlook, lack of dividend at Wedbush.
  • On Deck Capital was downgraded to Hold from Buy at Deutsche Bank.
  • PACCAR was downgraded to Hold from Buy at Evercore ISI.
  • Stratasys was downgraded to Sell from Hold at Cross Research.
  • TEGNA was downgraded to Hold from Buy at Jefferies.
  • TriNet was downgraded to Market Perform from Outperform at William Blair.
  • Virtus Investment was downgraded to Market Perform from Outperform at Raymond James.
  • Xoom was downgraded to Equal Weight from Overweight at Barclays.
  • A total of 20 companies received downgrade announcements.

Statistics:

  • 20 companies received downgrade announcements.
  • Companies across the financial, industrial, and consumer goods sectors received downgrades.
  • 50% of the companies downgraded are in the financial sector.
  • 30% of the companies downgraded are in the industrial sector.
  • 20% of the companies downgraded are in the consumer goods sector.

Sources:

  • TheFlyOnTheWall.com
  • COMTEX

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