Notable Downgrades: Five Below (FIVE), AbbVie (ABBV), Joy Global (JOY), Aduro BioTech (ADRO), Cummins Inc. (CMI)

Five Below, Inc. (FIVE) was reiterated an ‘Outperform’ by RBC Capital Markets analysts on Tuesday. The broker however, cut its price target on the stock to $40 from $46.

Shares of the $1.50 billion market cap company are down 39.97% year-over-year and 31.40% year-to-date.

Five Below dropped $0.57 to $27.44 in recent trading.

Analysts at Barclays downgraded AbbVie Inc. (ABBV) from ‘Overweight’ to ‘Equal Weight’ in a research report issued to clients on Tuesday.

The target price for ABBV is lowered from $73 to $72.

Joy Global, Inc. (JOY) was downgraded from ‘Neutral’ to ‘Underperform’ at BofA/Merrill (BAC).

Shares of JOY have lost $2.20 to $13.15 in mid-day trading on Tuesday, giving it a market cap of roughly $1.28 billion. The stock traded as high as $54.19 in December 3, 2014.

Shares have traded today between $13 and $14.44 with the price of the stock fluctuating between $13 to $54.19 over the last 52 weeks.

Aduro BioTech, Inc. (ADRO) had its rating lowered from ‘Outperform’ to ‘Perform’ by analysts at Oppenheimer on Tuesday.

ADRO was down $1.80 at $29.19 in mid-day trade, moving within a 52-week range of $16.28 to $49.25. The name, valued at $1.85 billion, opened at $30.

Cummins Inc. (CMI) was downgraded to ‘Underperform’ from ‘Buy’ at BofA/Merrill.

On valuation measures, Cummins Inc. shares are currently priced at 9.89x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 0.91. EPS for the same period registers at $9.34.

As for passive income investors, the firm pays stockholders $3.90 per share annually in dividends, yielding 3.91%.

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