Notable Downgrades: Veeva Systems (VEEV), Century Aluminum (CENX), Alcoa Inc. (AA), Baker Hughes (BHI), Codexis (CDXS)

Analysts at Deutsche Bank (DB) downgraded Veeva Systems Inc. (VEEV) from ‘Buy‘ to ‘Hold‘ in a research report issued to clients on Wednesday. The target price for VEEV is lowered from $37 to $30.

On valuation measures, Veeva Systems Inc. it’s trading at a forward P/E multiple of 50.17x, and at a multiple of 154.79x this year’s estimated earnings. The t-12-month revenue at Veeva is $289.01 million. VEEV ‘s ROE for the same period is 10.22%.

Shares of the $3.34 billion market cap company are down 9.17% year-over-year ; up 23.78% year-to-date.

Veeva Systems Inc., currently with a median Wall Street price target of $35.50 and a high target of $40.00, dropped $7.18 to $25.51 in recent trading.

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

Century Aluminum Co. (CENX) was downgraded from ‘Buy‘ to ‘Neutral‘ at BofA/Merrill (BAC).

Shares have traded today between $16.63 and $18.36 with the price of the stock fluctuating between $11.94 to $31.75 over the last 52 weeks.

Century Aluminum Co. shares are currently changing hands at 14.80x this year’s forecasted earnings, compared to the industry’s 11.50x earnings multiple. Ticker has a t-12 price/sales ratio of 0.91. EPS for the same period registers at $1.15.

Shares of CENX have lost $2.78 to $17.01 in mid-day trading on Wednesday, giving it a market cap of roughly $1.52 billion. The stock traded as high as $31.75 in Nov. 28, 2014.

Bank of America (BAC) reported on Wednesday that they have lowered their rating for Alcoa Inc. (AA). The firm has downgraded AA from ‘Buy‘ to ‘Neutral‘.

Alcoa Inc. recently traded at $14.57, a loss of $0.62 over Tuesday’s closing price. The name has a current market capitalization of $17.80 billion.

As for passive income investors, the producer of primary aluminum pays shareholders $0.12 per share annually in dividends, yielding 0.80%. Five year average dividend yield currently stands at 1.10%.

Baker Hughes Incorporated (BHI) had its rating lowered from ‘Focus Stock‘ to ‘Sector Perform‘ by analysts at Scotia Howard Weil on Wednesday. Currently there are 18 analysts that rate BHI a ‘Buy’, no analysts rate it a ‘Sell’, and 7 rate it a ‘Hold’.

BHI was down $0.66 at $61.99 in mid-day trade, moving within a 52-week range of $47.51 to $75.64. The name, valued at $26.94 billion, opened at $62.55.

On valuation measures, Baker Hughes Inc. shares are currently priced at 15.81x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.11. EPS for the same period registers at $3.92.

As for passive income investors, the firm pays stockholders $0.68 per share annually in dividends, yielding 1.10%.

Codexis, Inc. (CDXS) was downgraded by Ladenburg Thalmann from a ‘Buy‘ rating to a ‘Neutral‘ rating in a research report issued to clients on Wednesday.

CDXS closed at $3.78 on Tuesday and is currently trading up $0.14.

In the past 52 weeks, shares of Redwood City, California-based company have traded between a low of $1.34 and a high of $4.10 and are now trading at $3.92. Shares are up 104.32% year-over-year and 50.00% year-to-date.

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