Notable Downgrades: Citigroup (C), Allergan (AGN), DR Horton (DHI), NetApp (NTAP)

Analysts at Keefe Bruyette downgraded Citigroup Inc. (C) from ‘Outperform’ to ‘Market Perform’ in a research report issued to clients on Monday. The firm said Citi’s most recent quarterly beat was of “low quality” and that shares are fairly valued.

On valuation measures, Citigroup Inc. stock it’s trading at a forward P/E multiple of 8.19x, and at a multiple of 8.34x this year’s estimated earnings. The name’s t-12-month revenue is $69.25 billion. Citi’s ROE for the same period is 7.99%.

Shares of the $132.56 billion market cap banking giant are down 16.52% year-over-year ; down 13.09% year-to-date.

Citigroup Inc., currently with a median Street price target of $55.00 and a high target of $71.00, rose $0.15 to $45.07 in recent trading.

Allergan plc (AGN) was downgraded from ‘Overweight’ to ‘Neutral’ and the price target was cut to $238 from $311 at Piper Jaffray. Separately, the name was resumed with a ‘Buy’ and $275 target at Goldman Sachs (GS).

Shares have traded today between $213.90 and $220.90 with the price of the stock fluctuating between $212.67 to $340.34 over the last 52 weeks.

Allergan PLC shares are currently changing hands at 21.86x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 5.69. EPS for the same period registers at $10.01.

Shares of Allergan have gained $1.73 to $218.89 in midday trading on Monday, giving it a market cap of roughly $87 billion. The stock traded as high as $340.34 on July 29, 2015.

FBN Securities reported on Monday that they have lowered their rating for DR Horton Inc. (DHI). The firm has downgraded DHI from ‘Sector Perform’ to ‘Underperform’.

DR Horton recently traded at $31.14, a loss of $0.23 over Friday’s closing price. The name has a current market cap of $11.51 billion.

As for passive income investors, the homebuilding company pays shareholders $0.32 per share annually in dividends, yielding 1.02%.

NetApp, Inc. (NTAP) had its rating lowered from ‘Neutral’ to ‘Underperform’ by analysts at Sterne Agee CRT on Monday.

Currently there are 2 analysts that rate NTAP a ‘Buy’, 9 analysts rate it a ‘Sell’, and 25 rate it a ‘Hold’.

NTAP was down $0.51 at $24.61 in mid-day trade, moving within a 52-week range of $20.66 to $37.07. The name, valued at $7.19 billion, opened at $24.55.

Be the first to comment

Leave a Reply

Your email address will not be published.


*