Notable Downgrades: eBay Inc. (EBAY), Rio Tinto plc (RIO), Lululemon (LULU), Akamai Technologies (AKAM), 3D Systems (DDD)

Shares of eBay Inc. (EBAY) were downgraded to an ‘Underperform’ rating from ‘Buy’ by CLSA on Thursday. The firm also cut its 12-month base case estimate to $52 from $66. Separately, the name was also downgraded to ‘Sector Perform’ from ‘Outperform’ at RBC Capital and had its price target lowered to $60 from $63 at Cantor.

eBay shares currently have a PEG and forward P/E ratio of 1.34 and 14.19, respectively. Price/Sales for the same period is 3.66 while EPS is ($0.09). Currently there are 16 analysts that rate EBAY a ‘Buy’, while 23 rate it a ‘Hold’. No analysts rate it a ‘Sell’. EBAY has a median Wall Street price target of $62.00 with a high target of $68.00.

In the past 52 weeks, shares of San Jose, California-based company have traded between a low of $47.33 and a high of $59.70 and are now at $47.78. Shares are down 6.91% year-over-year and 8.44% year-to-date.

Analysts at Cowen downgraded Rio Tinto plc (RIO) to ‘Market Perform’ and lowered their price target to $54 from $64.

In the past 52 weeks, shares of London-based multinational metals and mining corporation have traded between a low of $46.83 and a high of $60.61 and are now at $49.44. Shares are down 0.36% year-over-year and 9.36% year-to-date.

Rio Tinto shares are currently priced at 14.47x this year’s forecasted earnings compared to the industry’s 2.60x earnings multiple. Ticker has 19 analysts that rate RIO a ‘Buy’, and 3 that rate it a ‘Hold’. 3 analysts rate it a ‘Sell’. RIO has a median Wall Street price target of $62.36 with a high target of $73.86.

The company has a market cap of $90.96B.

Macquarie reported on Thursday that they have lowered their rating for Lululemon Athletica Inc. (LULU). The firm has downgraded LULU from a ‘Neutral’ to an ‘Underperform’ rating and lowered its price target to $34 from $40. The firm said the company’s expansion into Asia and Europe will drive a meaningful increase in spending.

Lululemon lost $1.30 to $38.30 in morning trading today. Approximately 460,982 shares have already changed hands, compared to the stock’s average daily volume of 2,852,280 shares.

On valuation-measures, shares of Lululemon Athletica Inc. have a trailing-12 and forward P/E of 23.14 and 19.01, respectively. P/E to growth ratio is 1.46, while t-12 profit margin is 14.53%. EPS registers at $1.66. The company has a market cap of $5.51B and a median Wall Street price target of $45.50 with a high target of $55.00.

On trading-measure, LULU has a beta of 1.44 and a short float of 21.15%. In the past 52 weeks, shares of the Vancouver, Canada-based athletic apparel company have traded between a low of $36.26 and a high of $74.07 with the 50-day MA and 200-day MA located at $41.41 and $42.83 levels, respectively.

LULU currently prints a one year loss of about 46.96% and a year-to-date loss of around 32.92%.

Shares of Akamai Technologies, Inc. (AKAM) are down 3.50% to $38.92 in early trade after Wells Fargo (WFC) downgraded its rating to ‘Market Perform’ from ‘Outperform’, citing a slowdown in the company’s video and audio streaming traffic during the first two weeks of October.

The firm lowered its price target range for shares to $57-$61 from $70-$75.

Shares of 3D Systems Corporation (DDD) were downgraded to an ‘Equal Weight’ from ‘Overweight’ rating by Stephens on Thursday.

3D Systems Corporation, currently valued at $4.49B, has a median Wall Street price target of $58.00 with a high target of $84.00. Approximately 801,396 shares have already changed hands, compared to the stock’s average daily volume of 3,068,730.

In the past 52 weeks, shares of the 3D printing centric design-to-manufacturing solutions provider have traded between a low of $38.70 and a high of $97.28 with the 50-day MA and 200-day MA located at $47.92 and $51.03 levels, respectively. Additionally, shares of DDD trade at a P/E ratio of 2.65 and have a Relative Strength Index (RSI) and MACD indicator of 31.44 and -1.63, respectively.

DDD currently prints a one year loss of about 23.43% and a year-to-date loss of around 55.59%.

Be the first to comment

Leave a Reply

Your email address will not be published.


*