Notable Downgrades: Chipotle Mexican Grill (CMG), Altera (ALTR), Scholastic (SCHL), Yahoo (YHOO), Cree, Inc. (CREE)

Analysts at Raymond James downgraded Chipotle Mexican Grill, Inc. (CMG) from ‘Outperform‘ to ‘Market Perform‘ in a research report issued to clients on Wednesday.

On valuation measures, Chipotle Mexican Grill Inc. stock it’s trading at a forward P/E multiple of 31.19x, and at a multiple of 45.48x this year’s estimated earnings. The t-12-month revenue at Chipotle Mexican Grill Inc. is $4.11 billion. CMG ‘s ROE for the same period is 25.09%.

Shares of the $19.94 billion market cap company are up 36.72% year-over-year and 1.17% year-to-date.

Chipotle Mexican Grill Inc., currently with a median Wall Street price target of $750 and a high target of $800, dropped $49.90 to $642.50 in recent trading.

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

Altera Corp. (ALTR) was downgraded from ‘Overweight‘ to ‘Neutral‘ at Piper Jaffray.

Shares have traded today between $42.40 and $43.10 with the price of the stock fluctuating between $30.47 to $45.38 over the last 52 weeks.

Altera Corp. shares are currently changing hands at 28.34x this year’s forecasted earnings, compared to the industry’s 2.86x earnings multiple. Ticker has a t-12 price/sales ratio of 6.73. EPS for the same period registers at $1.52.

Shares of ALTR have lost $0.17 to $43.07 in mid-day trading on Wednesday, giving it a market cap of roughly $12.96 billion. The stock traded as high as $45.38 in April 10, 2015.

Gabelli & Co reported on Wednesday that they have lowered their rating for Scholastic Corporation (SCHL). The firm has downgraded SCHL from ‘Buy‘ to ‘Hold‘.

Scholastic Corp. recently traded at $42.63, a loss of $1.31 over Tuesday’s closing price. The name has a current market capitalization of $1.40 billion.

As for passive income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 1.50%. Five year average dividend yield currently stands at 1.60%.

Yahoo! Inc. (YHOO) was reiterated a ‘Outperform’ by FBR Capital analysts on Wednesday. The broker also cut its price target on the stock to $50 from $58.

YHOO was down $0.55 at $43.94 in mid-day trade, moving within a 52-week range of $32.93 to $52.62. The name, valued at $41.13 billion, opened at $44.57.

On valuation measures, Yahoo! Inc. shares are currently priced at 5.90x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 9.02. EPS for the same period registers at $7.45.

Cree, Inc. (CREE) was reiterated as ‘Hold’ with a $31 from $34 price target on Wednesday by Deutsche Bank (DB).

Shares have traded today between $32.02 and $34.25 with the price of the stock fluctuating between $27.25 to $58.98 over the last 52 weeks.

Cree Inc. shares are currently changing hands at 47.92x this year’s forecasted earnings, compared to the industry’s 17.69x earnings multiple. Ticker has a t-12 price/sales ratio of 2.33. EPS for the same period registers at $0.68.

Shares of CREE have lost $3.03 to $32.37 in mid-day trading on Wednesday, giving it a market cap of roughly $3.58 billion. The stock traded as high as $58.98 in April 22, 2014.

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