Research Analysts’ Downgrades for December, 3rd (BOX, CCL, DKS, EQM, HDELY, KGSPY, SHOO, SMTC, SPN, TITCF)

Research Analysts’ downgrades for Monday, December 3rd:

BOX (NYSE:BOX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Box has been incurring losses since its inception. The company reported fiscal third-quarter adjusted loss of cents per share, which was however narrower than the Zacks Consensus Estimate. The increasing expenses incurred on new new cloud investments has been hurting profits.  Also, rising cloud competition is a big headwind. The stock has underperformed the industry it belongs to on a year-to-date basis. However, the increasing adoption of its cloud content management platform by its existing customers as well as new customers is a big positive. Expanding paid customer base is aiding its top-line growth. Further, Box’s strong focus toward advancement of its global go-to-market strategy is helping it to attract customers from the global market to its platform. Also, strong efforts toward enriching the cloud management and AI platforms will drive Box's growth in fiscal 2019.”

Carnival (NYSE:CCL) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Carnival have underperformed the industry in the past six months. Soft fourth-quarter fiscal 2018 earnings guidance is a concern for investors. Earnings in the fourth quarter will largely be impacted by strong dollar and rising fuel prices. Higher costs relating to additional investments this year remain a threat. Increased investments in advertising and TV programming further are adding to the company’s costs. Moreover, continual strengthening of the U.S. dollar against the functional currencies of the company’s foreign operations is likely to adversely impact the company’s results. Estimates for fiscal 2018 have also been stable over the past 30 days. However, given the burgeoning demand for cruise travel, the addition of new ships to its fleet bodes well. The company also believes that it is well poised for continued earnings growth, given the current strength in its bookings along with pricing trends for the year.”

Dicks Sporting Goods (NYSE:DKS) was downgraded by analysts at Citigroup Inc from a buy rating to a neutral rating. The firm currently has $40.00 target price on the stock.

EQM Midstream Partners (NYSE:EQM) was downgraded by analysts at Stifel Nicolaus from a buy rating to a hold rating. The firm currently has $51.00 price target on the stock, down from their previous price target of $56.00.

HEIDELBERGCEMEN/ADR (OTCMKTS:HDELY) was downgraded by analysts at Deutsche Bank AG from a buy rating to a hold rating.

KINGSPAN GRP PL/ADR (OTCMKTS:KGSPY) was downgraded by analysts at Deutsche Bank AG from a buy rating to a hold rating.

Steven Madden (NASDAQ:SHOO) was downgraded by analysts at Citigroup Inc from a buy rating to a neutral rating. Citigroup Inc currently has $34.00 target price on the stock, down from their previous target price of $38.00.

Semtech (NASDAQ:SMTC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Semtech continues to be impacted by mounting competition in the semiconductor space. The resultant pricing pressure continues to impact the company’s margins and profitability. Moreover, the seasonality in the consumer segment is a matter of concern. Also, risk of foreign exchange fluctuations is a headwind. However, the company reported strong fiscal third quarter results. The growth drivers for the company were product differentiation, operational flexibility and a specific focus on fast-growing segments and regions. Further, Semtech's strong performance in the industrial and communications markets continues to drive its top-line growth. Notably, shares of Semtech have outperformed the industry it belongs to on a year-to-date basis.”

Superior Energy Services (NYSE:SPN) was downgraded by analysts at Bank of America Corp from a neutral rating to an underperform rating. The firm currently has $5.00 price target on the stock.

Titan Cement (OTCMKTS:TITCF) was downgraded by analysts at Deutsche Bank AG from a buy rating to a hold rating.

Vornado Realty Trust (NYSE:VNO) was downgraded by analysts at Sandler O’Neill from a buy rating to a hold rating.

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