5 big analyst cuts: Revolve stock slashed despite Q1 beat | Pro Recap
By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday’s close: downgrades for Revolve, Spirit AeroSystems, DHT, Wingstop, and Builders FirstSource.
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Revolve downgraded to Market Perform after Q1 beat
Raymond James downgraded Revolve (NYSE:RVLV) to Market Perform from Outperform, following the Q1 earnings announcement yesterday.
Shares are trading more than 10% pre-market today after the company reported its Q1 results, with revenue of $279.61 million missing the consensus estimate of $289.39M.
Spirit AeroSystems downgraded at two firms following Q1 miss
Spirit AeroSystems (NYSE:SPR) was downgraded by TD Cowen and CFRA, following the Q1 earnings announcement.
TD Cowen downgraded the stock to Market Perform from Outperform and cut its price target to $28.00 from $38.00 to reflect pared cash flow prospects with multiple risks (supply chain, inflation, IAM contract, H2 debt refi) that could cause further cuts. Meanwhile, CFRA downgraded to Hold from Strong Buy and cut its price target to $31.00 from $52.00.
Shares plunged more than 12% yesterday after the company reported a Q1 miss. Today, shares were recently down more than 2% pre-market.
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3 more downgrades
Jefferies downgraded DHT (NYSE:DHT) to Hold from Buy and cut its price target to $10.00 from $12.00.
The company reported its Q1 earnings yesterday, with both EPS and revenues coming in below the consensus estimates.
Citi downgraded Wingstop (NASDAQ:WING) to Neutral from Buy while raising its price target to $224.00 from $204.00.
Shares gained more than 9% yesterday after the company reported better-than-expected Q1 results.
Baird downgraded Builders FirstSource (NYSE:BLDR) to Neutral from Outperform with a price target of $96.00.
Shares jumped more than 12% yesterday, following Q1 earnings.
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