Notable Downgrades: SunEdison (SUNE), Iconix Brand Group (ICON), Avago (AVGO), Ophthotech (OPHT), Viacom, Inc. (VIAB)

Analysts at Wolfe Research downgraded SunEdison, Inc. (SUNE) from ‘Outperform‘ to ‘Peer Perform‘ in a research report issued to clients on Friday. The name was also lowered at Needham with a new 12-month base case estimate of $30 from $41.

SUNE shares recently lost $1.67 to $15.41. In the past 52 weeks, shares of Maryland Heights, Missouri-based developer and seller of silicon wafers to the semiconductor industry have traded between a low of $13.09 and a high of $33.45. Shares are down 11.59% year-over-year and 12.46% year-to-date.

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

Iconix Brand Group, Inc. (ICON) was downgraded from ‘Buy‘ to ‘Neutral‘ at Nomura.

Shares have traded today between $13.54 and $18.00 with the price of the stock fluctuating between $13.54 to $43.14 over the last 52 weeks.

Iconix Brand Group Inc. shares are currently changing hands at 5.36x this year’s forecasted earnings, compared to the industry’s 23.61x earnings multiple. Ticker has a t-12 price/sales ratio of 2.40. EPS for the same period registers at $2.79.

Shares of Iconix have lost $4.67 to $14.93 in midday trading on Friday, giving it a market cap of roughly $713 million. The stock traded as high as $43.14 in August 11, 2014.

Drexel Hamilton reported on Friday that they have lowered their rating for Avago Technologies Limited (AVGO). The firm has downgraded AVGO from ‘Buy‘ to ‘Hold‘.

Avago Technologies Ltd. recently traded at $122.18, a loss of $1.09 over Thursday’s closing price. The name has a current market capitalization of $33.42 billion.

As for passive income investors, the company pays shareholders $1.60 per share annually in dividends, yielding 1.20%.

Ophthotech Corporation (OPHT) had its rating lowered from ‘Neutral‘ to ‘Sell‘ by analysts at Goldman (GS) on Friday.

Currently there are 5 analysts that rate OPHT a ‘Buy‘, no analysts rate it a ‘Sell‘, and 2 rate it a ‘Hold‘.

OPHT was down $7.34 at $54.79 in midday trade, moving within a 52-week range of $35.38 to $72.51. The name, valued at $1.88 billion, opened at $58.65.

Viacom, Inc. (VIAB) was downgraded by Wells Fargo (WFC) from a ‘Outperform‘ rating to a ‘Market Perform‘ rating in a research report issued to clients on Friday.

VIAB closed at $44.10 on Thursday and is currently trading up $1.24.

In the past 52 weeks, shares of New York-based entertainment content company have traded between a low of $39.28 and a high of $82.25 and are now trading at $45.34. Shares are down 44.01% year-over-year and 40.76% year-to-date.

Be the first to comment

Leave a Reply

Your email address will not be published.


*