Notable Downgrades: Fleetmatics Group (FLTX), Melco Crown Entertainment (MPEL), Marvell Technology (MRVL, Ross Stores (ROST), BHP Billiton (BHP)

Analysts at Piper Jaffray downgraded Fleetmatics Group PLC (FLTX) from ‘Overweight‘ to ‘Neutral‘ in a research report issued to clients on Wednesday.

On valuation measures, FleetMatics Group stock is trading at a forward P/E multiple of 26.17x, and at a multiple of 52.78x this year’s estimated earnings.

The T-12-month revenue at FleetMatics Group PLC is $217.67 million. FLTX ‘s ROE for the same period is 15.13%.

Shares of the $1.61 billion market cap company are up 1.99% year-over-year and 6.90% year-to-date.

Fleetmatics , currently with a median Wall Street price target of $46.00 and a high target of $50.00, rose $4.81 to $42.75 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

Melco Crown Entertainment Limited (MPEL) was downgraded from ‘Outperform‘ to ‘Neutral‘ at Credit Suisse.

Shares have traded today between $23.63 and 24.38 with the price of the stock fluctuating between $21.04 to $45.70 over the last 52 weeks.

Melco Crown Entertainment Ltd. shares are currently changing hands at 22.04x this year’s forecasted earnings, compared to the industry’s 56.93x earnings multiple. Ticker has a t-12 price/sales ratio of 2.85. EPS for the same period registers at $1.10.

Shares of MPEL have lost $0.92 to $24.21 in mid-day trading on Wednesday, giving it a market cap of roughly $13.20 billion. The stock traded as high as $45.70 in March 5, 2014.

Stifel reported on Wednesday that they have lowered their rating for Marvell Technology Group Ltd. (MRVL). The firm has downgraded MRVL from ‘Buy‘ to ‘Hold‘.

Marvell Technology Group recently traded at $16.41, a gain of $0.23 over Tuesday’s closing price. The name has a current market capitalization of $8.38 billion. As for passive income investors, the company pays shareholders $0.24 per share annually in dividends, yielding 1.40%.

Ross Stores Inc. (ROST) had its rating lowered from ‘Buy‘ to ‘Neutral‘ by analysts at MKM Partners on Wednesday. The firm sees shares as fairly valued at $97, versus $98.07 close. Currently there are 15 analysts that rate ROST a ‘Buy’, 1 analyst rates it a ‘Sell’, and 12 rate it a ‘Hold’.

ROST was up $0.07 at $98.14 in mid-day trade, moving within a 52-week range of $61.83 to $99.95. The name, valued at $20.46 billion, opened at $96.99.

On valuation measures, Ross Stores Inc. shares are currently priced at 23.15x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.90. EPS for the same period registers at $4.24.

As for passive income investors, the firm pays stockholders $0.80 per share annually in dividends, yielding 0.80%.

BHP Billiton Limited (BHP) was downgraded by Citigroup (C) from a ‘Buy‘ rating to a ‘Neutral‘ rating in a research report issued to clients on Wednesday.

BHP closed at $52.31 on Tuesday and is currently trading up $0.22.

In the past 52 weeks, shares of the global resources company have traded between a low of $42.92 and a high of $73.91 and are now trading at $52.53. Shares are down 23.46% year-over-year ; up 10.55% year-to-date.

Be the first to comment

Leave a Reply

Your email address will not be published.


*