Notable Downgrades: Keurig Green Mountain (GMCR), Mondelez Int’l (MDLZ), TTM Technologies (TTMI) AMC Networks (AMCX), Zumiez (ZUMZ)


Analysts at Canaccord Genuity downgraded Keurig Green Mountain, Inc. (GMCR) from ‘Buy‘ to ‘Neutral‘ in a research report issued to clients on Thursday. The firm slashed their price target to $65 from $120 noting they can’t forecast meaningful growth. GMCR was also downgraded from ‘Buy’ to ‘Neutral’ at Goldman (GS), and to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley (MS) – price target lowered to $60 from $110.

On valuation measures, Keurig Green Mountain Inc. stock it’s trading at a forward P/E multiple of 13.07x, and at a multiple of 15.01x this year’s estimated earnings. The t-12-month revenue at Keurig Green Mountain is $4.73 billion. GMCR ‘s ROE for the same period is 19.62%.

Shares of the $8.31 billion market cap company are down 35.66% year-over-year and 42.90% year-to-date.

Keurig Green Mountain Inc., currently with a median Wall Street price target of $97.50 and a high target of $120.00, dropped $21.02 to $53.89 in recent trading.

Mondelez International, Inc. (MDLZ) was downgraded from ‘Buy‘ to ‘Outperform‘ at Credit Agricole in a research note issued on Friday. Bill Ackman’s Pershing Square this morning disclosed a 7.5% stake in the maker of Cadbury chocolate and Oreo cookies. The stake is worth about $5.5 billion.

Shares have traded today between $46.11 and $48.56 with the price of the stock fluctuating between $31.83 to $48.56 over the last 52 weeks.

Mondelez International Inc. Cl A shares are currently changing hands at 33.78x this year’s forecasted earnings, compared to the industry’s 12.49x earnings multiple. Ticker has a t-12 price/sales ratio of 2.26. EPS for the same period registers at $1.39.

Shares of Mondelez have gained $0.53 to $46.82 in midday trading on Thursday, giving it a market cap of roughly $76 billion. The stock traded as high as $48.56 in August 5, 2015.

AMC Networks Inc. (AMCX) was reiterated as ‘Hold’ with a $80 from $85 price target on Thursday by Topeka Capital Markets.

In the past 52 weeks, shares of New York-based operator of various cable television’s brands have traded between a low of $52.73 and a high of $87.18 with the 50-day MA and 200-day MA located at $83.22 and $76.28 levels, respectively. Additionally, shares of AMCX trade at a P/E ratio of 1.44 and have a Relative Strength Index (RSI) and MACD indicator of 23.75 and -4.43, respectively.

AMCX currently prints a one year return of 32.17% and a year-to-date return of around 23%.

TTM Technologies Inc. (TTMI) rating of ‘Buy’ was reiterated today at Needham with a price target decrease of $11 from $13 (versus a $9.04 previous close).

TTM Technologies Inc. recently traded at $8.11, a loss of $0.94 over Wednesday’s closing price. The name has a current market capitalization of $800.63 million.

Shares of Zumiez, Inc. (ZUMZ) are down $2.46 to $23.00 in midday trading after Mizuho reiterated its ‘Neutral’ rating and lowered its 12-month base case estimate on the name by 4 points to $25 a share.

On valuation measures, Zumiez Inc. shares are currently priced at 15.68x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 0.90. EPS for the same period registers at $1.47.

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