Notable Downgrades: Tesla (TSLA), K2M Group (KTWO), Navistar (NAV), Harley-Davidson (HOG), Enphase Energy (ENPH)

Tesla Motors (TSLA) – Pacific Crest lowered its rating on TSLA to ‘Sector weight’ from ‘Overweight,’ saying it still considers the automaker’s technology “disruptive” but that valuation is getting full.

Tesla Motors Inc., currently with a median Wall Street price target of $293.00 and a high target of $400.00, dropped $10.12 to $257.76 in recent trading.

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

K2M Group Holdings, Inc. (KTWO) was reiterated a ‘Outperform’ by Northland Capital analysts on Wednesday. The broker however, lowered its price target on the stock to $28 from $31.

K2M shares have traded today between $22.51 and $22.99 with the price of the stock fluctuating between $12.31 to $26.29 over the last 52 weeks.

KTWO has lost $1.48 to $22.70 in midday trading on Wednesday, giving it a market cap of roughly $900 million. The stock traded as high as $26.29 in June 1, 2015.

BB&T Capital Markets reported on Wednesday that they have lowered their rating for Navistar International Corporation (NAV). The firm has downgraded NAV from ‘Buy‘ to ‘Hold‘.

Navistar International Corp. recently traded at $19.13, a loss of $1.44 over Tuesday’s closing price. The name has a current market capitalization of $1.56 billion.

Harley-Davidson, Inc. (HOG) had its rating lowered from ‘Outperform‘ to ‘Sector Perform‘ by analysts at RBC Capital Markets on Wednesday. The firm sees shares as fairly valued at $59 from previous target of $66 (versus $56.66 close). Currently there are 12 analysts that rate HOG a ‘Buy‘, no analysts rate it a ‘Sell‘, and 8 rate it a ‘Hold‘.

HOG was down $1.94 at $54.72 in midday trade, moving within a 52-week range of $53.04 to $70.41. The name, valued at $11.39 billion, opened at $55.70.

On valuation measures, Harley-Davidson Inc. shares are currently priced at 13.93x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.93. EPS for the same period registers at $3.93.

As for passive income investors, the company pays stockholders $1.24 per share annually in dividends, yielding 2.20%.

Enphase Energy, Inc. (ENPH) was downgraded by JP Morgan (JPM) from an ‘Overweight‘ rating to a ‘Neutral‘ rating in a research report issued to clients on Wednesday. They currently have a $10 price objective on the stock, 6 points lower from their previous price target.

ENPH closed at $7.57 on Tuesday and is currently trading down $1.00.

In the past 52 weeks, shares of the company have traded between a low of $6.27 and a high of $17.97 and are now trading at $6.57. Shares are down 18.16% year-over-year and 47.03% year-to-date.

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