Bull Market Panic? 11 Stocks Analysts Want You to Sell Right Now
Hyster-Yale Materials Handling Inc. (NYSE: HY) has had a hard week after earnings. A firm called Seaport Global lowered its rating to Sell from Neutral with a $75 price target. The prior close was at $90.01, before the November 6 downgrade, but this stock was down at $81.07 late on Tuesday.
The lift trucks and aftermarket parts company had a $1.33 billion market cap on last look, and even the consensus target price is down at $77.00. Hyster-Yale’s 52-week trading range is $53.50 to $93.90.
ON Semiconductor Corp. (NASDAQ: ON) did not really react to the call, but Credit Suisse maintained its Underperform rating. Still, the firm raised its target to $17.00 from $14.50, which was still about $4.41 lower than the prior day’s closing price. The firm’s Pitzer referred to the earnings as solid but said there was less upside than expected.
This may sound like less of a “Sell” than it was, but the consensus price target was last seen at $20.68, and the 52-week range of $10.84 to $22.03.
PTC Inc. (NASDAQ: PTC) was started as Underperform and assigned a $60 price objective at Merrill Lynch on November 6. The prior closing price was $66.25, so maybe 10% downside doesn’t sound so crazy when you consider that the consensus target price is $66.85.
This $7.5 billion software player has a 52-week trading range of $44.82 to $67.12.
Sprint Corp. (NYSE: S) has been a disaster since its merger with T-Mobile imploded. Sprint is the big loser here because the wireless telecom carrier is the most stretched financially. Jefferies reiterated its Sell rating and cut its target to $4.50 from $5.50 on November 7, and KeyBanc Capital Markets downgraded Sprint to Underweight from Sector Weight on November 6.
Sprint shares were at $6.67 last Friday and fell to $5.90 on Monday after the first downgrade and after the merger was killed. Its stock was down another 2.6% more at $5.75 on Tuesday afternoon, and its 52-week range is $5.72 to $9.65.
Veritone Inc. (NASDAQ: VERI) was down over 15% at $31.05 on Tuesday after reporting earnings the prior day. It was downgraded to Sell from Buy with a $15 price target at FBR Capital Markets on November 7. Veritone’s loss from operations in the third quarter was $19.5 million (up $13.5 million from a year ago) due primarily to the $11.6 million increase in stock-based compensation expenses. Meanwhile, net revenues increased 60% to $3.7 million in the third quarter from $2.3 million in the same period in 2016.
Veritone’s stock is highly volatile, as seen by the 52-week range of $7.76 to $74.92 per share.
Ultimate Software Group Inc. (NASDAQ: ULTI) was effectively called “not so ultimate” at Merrill Lynch on November 6. The firm started coverage as Underperform and assigned a $187 price objective, The prior close was $206.78, but the stock was down at $196.04 late on Tuesday. Its 52-week range is $180.29 to $233.42.
The company provides cloud-based human capital management solutions, and it had a market cap of $6 billion before the cautious call. Its consensus analyst target is up at $224.45.
Tuesday’s top analyst upgrades and downgrades included Altice USA, CVS Health, Exxon, Lowe’s, T-Mobile, Sprint, Under Armour and many more.