10 Stocks Analysts Want You to Sell
Pfizer Inc. (NYSE: PFE) was downgraded to Sell from Neutral with a $31 price target at Citigroup on May 16. The stock was indicated down 1.8% at $32.53 on Tuesday morning as a result of the rating, but the stock was trading up nearly a quarter at $32.46 on Friday’s close. This downgrade took Pfizer’s consensus target price down from $37.89 ahead of the call to $37.53 at the end of the week.
Pfizer has a 52-week range of $29.83 to $37.39, but at least it has close to a 4% dividend yield, now that the share price has been muted with close to being unchanged so far in 2017.
Plug Power Inc. (NASDAQ: PLUG) is no stranger to volatility, and on May 17 Roth Capital downgraded it to Sell from Neutral with a $1.30 price target. The close on May 16 was $2.04, and Plug Power shares closed at $1.76 on the heels of the downgrade — only to be at $1.97 again later in the week. Roth believes that the Amazon pact may in reality have a negative impact rather than be a huge boost.
Plug Power shares have traded between $0.83 and $2.70 in the past year.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) was started with a Sell rating and assigned a $92 price target at Goldman Sachs on May 16. Its shares were at $122.33 ahead of the call and fell to $119.78 afterward. On Friday its share price closed down at $117.67, while the consensus target price was up at $132.05.
And the Rest
Other key Sell and Underperform calls were seen in the following last week:
Buckle Inc. (NYSE: BKE) was downgraded to Sell from an already cautious Hold rating at Deutsche Bank on May 19. This stock closed at $17.40 the prior day and closed down more than 3% at $16.85 on Friday. It has a 52-week range of $16.00 to $28.67 and a consensus target price of $19.67.
NantKwest Inc. (NASDAQ: NK) was downgraded to Sell from Neutral with a $3 price target by Citigroup on May 16. Shares traded at $4.60 on May 15 and slid throughout the week. The stock was down more than 7% at $3.46 when trading closed on Friday. The consensus analyst target is $6.00, and the 52-week range is $2.71 to $9.60.
W.W. Grainger Inc. (NYSE: GWW) was downgraded to Sell from Hold with a $145 price target at Deutsche Bank on May 18. Grainger shares closed at $179.10 on May 16 and then fell to $174.77 a day ahead of this downgrade. Grainger shares then closed at $173.30 after the call, but the stock was back above $175.00 late on Friday. The 52-week range is $170.21 to $262.71, and the consensus price target is $200.95.
And for one bonus in cybersecurity (with a loose definition of bonus):
Symantec Corp. (NASDAQ: SYMC) was not exactly given Sell ratings this past week, but its share performance after downgrades makes it feel like the old negativity was back in play, despite Symantec claiming that it blocked millions of WannaCry instances. This would have marked the 11th “stock to sell,” but it technically was not given new formal Sell equivalent ratings this week, despite a prior Underperform rating from Merrill Lynch. Analysts took a very mixed stance the prior week after earnings. RBC Capital Markets downgraded Symantec to Sector Perform from Outperform on May 19, on May 18 UBS downgraded it to Neutral from Buy with a $33 price target.
Symantec closed at $31.01 on Friday, May 12, and closed up at $32.00 last Monday after the WannaCry security pop. What hurt so bad here is that Symantec’s stock price sold off each day of the week thereafter. It was down to $29.02 on Friday’s close. Symantec has a 52-week range of $16.83 to $33.22 and a consensus price target of $32.79.