Affiliated Managers Group (NYSE:AMG) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Affiliated Managers’ shares have marginally underperformed the industry over the past three months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company remains well positioned for growth, based on successful partnerships, a diverse product mix and initiatives undertaken to strengthen its retail market operations. Steady increase in net inflows will likely support assets under management (AUM) growth. However, use of high debt levels might limit its flexibility, in terms of procuring additional finance. Further, the company has substantial intangible assets that may require impairment, which consequently will have an adverse impact on its financials.”
Caterpillar (NYSE:CAT) was upgraded by analysts at Citigroup Inc to an outperform rating.
Companhia Brasileira de Distribuicao (NYSE:CBD) was upgraded by analysts at Zacks Investment Research from a sell rating to a strong-buy rating. Zacks Investment Research currently has $23.00 target price on the stock. According to Zacks, “Companhia Brasileira has surpassed the industry in the past month. The company’s Assai segment, which has long been a growth driver continued with its stellar performance in the second quarter. During the quarter, sales at this unit surged on the back of store openings and higher comps. This, along with solid Multivarejo performance drove Companhia Brasileira’s top line and margins. Markedly, these units are expected to witness continued market share gains in 2018. Also, the company’s latest pilot programs and core growth strategies for 2018-2020 bode well. However, Companhia Brasileira has been battling food deflation for a while now. The trend lingered in the second quarter of 2018, wherein food deflation had an adverse impact on Assai’s gross margin and gross sales. Further, management had earlier stated that it expects food deflation to persist in 2018. Stiff industry competition also remains a threat.”
Copart (NASDAQ:CPRT) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “In fourth-quarter fiscal 2018, though Copart reported an earnings miss, it improved year over. During the quarter, revenues came in higher than both the Zacks Consensus Estimate and the prior year quarter figure, aided by favorable currency effects. However, rising general and administrative expenses, mainly accruing on account of acquisitions, is a concern before the company. Also, improving safety features in vehicles will likely have a negative impact on Copart’s future earnings. However, Copart is expanding its network of facilities to manage inflating volumes. In September, the company added its second location in Germany and seventh hub in Brazil. These new locations will help the company to cater to important buyer base.”
GTX (NASDAQ:GTXI) was downgraded by analysts at Robert W. Baird from an outperform rating to a neutral rating. The firm currently has $17.00 target price on the stock.
Morgan Stanley (NYSE:MS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Morgan Stanley's shares have underperformed the industry over the past six months. Yet, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in each of the trailing four quarters. While the company’s efforts to strengthen wealth management operations, focus on corporate lending and normalized levels of trading activities will continue to support revenues, slowdown in debt underwriting will likely hurt the company's investment banking performance to some extent. Also, because of the company's continued investment in franchise, expenses are likely to remain elevated. Thus, higher costs are expected to hurt bottom line growth in the near term.”
Nike (NYSE:NKE) had its sell rating reaffirmed by analysts at Bank of America Corp. They currently have a $50.00 target price on the stock.
Robert W. Baird initiated coverage on shares of Restaurant Brands International (NYSE:QSR) (TSE:QSR). They issued an outperform rating on the stock.
Surface Oncology (NASDAQ:SURF) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Surface Oncology, Inc. is a clinical-stage immuno-oncology company. It develops therapies for the treatment of cancer. The company’s product pipeline includes CD47, CD73, SRF231, SRF373, SRF617, SRF388 and SRF231 which are in clinical stage. Surface Oncology is based in Cambridge, Massachusetts. “
Sensient Technologies (NYSE:SXT) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “
tronc (NASDAQ:TRNC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “
Tesco (OTCMKTS:TSCDY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “TESCO PLC., is the UK’s largest retailer and one of the world’s leading international retailers. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. “
United Natural Foods (NASDAQ:UNFI) had its sell rating reiterated by analysts at Pivotal Research. Pivotal Research currently has a $21.00 target price on the stock. The analysts wrote, “We are lowering price target for UNFI to $21 (from $25). We are also reducing our FY19 EPS est. from $2.97 to $2.87 (well below the preliminary EPS guidance range of $3.48-$3.58). We are introducing a pro forma EPS est. of $3.66 for FY20.””
Boingo Wireless (NASDAQ:WIFI) had its outperform rating reiterated by analysts at CIBC. They currently have a $39.00 target price on the stock, up from their previous target price of $30.00.
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