2 Stocks Hit By Analyst Downgrades

Both stocks have struggled in the past year

by Josh Selway

Published on Jan 18, 2019 at 10:06 AM

Combing through this morning's analyst updates across Wall Street, we came across bearish notes on advertising firm Interpublic Group of Companies Inc (NYSE:IPG) and trade show specialist Emerald Expositions Events Inc (NYSE:EEX). Below, we'll take a closer look at the shares of IPG and EEX.

IPG stock was cut to "sector perform" from "outperform" at RBC, which also lowered its price target to $24 from $28. The brokerage firm believes the company's organic growth could slow in 2019. More broadly, analyst ratings on the security are mixed, with five "buy" or "strong buy" ratings on the books, compared to three "holds," and one "sell."

So far today, the equity has dipped 0.5% to trade at $22.23. It's coming off a horrible December in which it hit an annual low of $19.62 on Dec. 26, and despite a strong start to 2019 -- up over 8% before today -- the shares may be losing steam near the just-overhead 50-day moving average.

EEX, meanwhile, saw its rating lowered to "underweight" from "equal weight" at Barclays, which matches the general opinion on the Street. In fact, not a single brokerage firm recommends buying the security, and its average 12-month price target of $13.52 sits right near current levels.

Emerald Expositions Events stock is down 3.9% today at $13.17, which is par for the course. Year-over-year, the equity has shed roughly 38%, and yesterday's two-month high was capped by the 100-day moving average.


a schaeffer's exclusive

5 NEW STOCK PICKS

We're celebrating 38 years with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


What's Next for the American Wealth Gap
Porter Stansberry is predicting a major change in the American economic system.
RBS Stock Rises on New CEO Appointment
Alison Rose will be the first woman to serve as CEO to a major British lender
2 Energy Stocks Snap Back After Heavy Losses
Energy stocks CRC and MDR are rallying back from brutal selling earlier in the week
How the 2020 Election Will Affect the U.S. Economy
The 2020 election could see some major changes in the American economic system.