Garmin, Qorvo, Spirit Realty Capital Downgraded

Garmin, Qorvo, and Spirit Realty Capital stocks received bearish analyst attention

May 4, 2017 at 10:05 AM
facebook X logo linkedin


Analysts are weighing in on GPS maker Garmin Ltd. (NASDAQ:GRMN), Apple supplier Qorvo Inc (NASDAQ:QRVO), as well as real estate investment trust (REIT) Spirit Realty Capital, Inc (NYSE:SRC). Here's a quick roundup of today's bearish brokerage notes on shares of GRMN, QRVO, and SRC.

Garmin Stock Finds Support

J.P. Morgan Securities cut its rating on GRMN stock to "underweight" from "neutral" and its price target to $50 from $55. Though Garmin Ltd. stock initially moved lower at the open, it found support atop the round $50 mark. Not only is this home to GRMN's 180-day moving average -- which caught a pullback in January -- but also heavy put open interest in both the weekly 5/5 and monthly May series of options. At last check, GRMN stock was up 1% at $51.14.

Apple Supplier Qorvo Rebounds After Initial Post-Earnings Dip

QRVO stock has been a long-term outperformer, up roughly 29% year-to-date. However, after an initial dip, the stock has swung up 0.7% to trade at $68.56, even after Qorvo Inc unveiled lower-than-expected current-quarter guidance. Not even a subsequent round of bearish brokerage notes is slowing the stock. Among those weighing in on QRVO stock were D.A. Davidson -- which lowered its rating to "neutral" -- and BMO, which slashed its price target to $63 from $67. More broadly speaking, analysts are split on the Apple supplier, with nine brokerage maintaining a "buy" or better rating, and seven issuing a "hold" or worse recommendation.

Spirit Realty Capital Stock Hits Record Low

SRC stock has plunged 22.3% to $6.93, a new record low, after the company's first-quarter earnings miss. Additionally, J.P. Morgan Securities and Ladenburg Thalmann downgraded Spirit Realty Capital, Inc to "neutral," while Capital One Securities lowered its rating to "underweight." Today's negative price action is just more of the same for SRC stock, which has surrendered roughly half its value since hitting a record high of $13.97 last August. Additional losses could encourage more analysts to downwardly revise their ratings, too, considering the majority of brokerages covering the shares maintain a "buy" or better rating.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI