Mar 9, 2016

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Three Stocks Receive Downgrades From Analysts: Preferred Apartment Communities Inc (APTS), Performance Sports Group Ltd (PSG), Carmike Cinemas Inc (CKEC)

Three Stocks Receive Downgrades From Analysts: Preferred Apartment Communities Inc (APTS), Performance Sports Group Ltd (PSG), Carmike Cinemas Inc (CKEC)

Analyst recommendations are like dairy products in that it is best to use them quickly or not at all. Shares tend to drift in the direction of recommendation changes, but for weeks or months, not years. The best recommendation changes are ones that stem from concrete new information, and that change in near-term earnings forecasts are a good sign of such information.

According to U.S. SEC, Research analysts study publicly traded companies and make recommendations on the securities of those companies. Most specialize in a particular industry or sector of the economy. They exert considerable influence in today’s marketplace. Analysts’ recommendations or reports can influence the price of a company’s stock—especially when the recommendations are widely disseminated through television appearances or through other electronic and print media. The mere mention of a company by a popular analyst can temporarily cause its stock to rise or fall—even when nothing about the company’s prospects or fundamentals has recently changed. Analysts often use a variety of terms—buy, strong buy, near-term or long-term accumulate, near-term or long-term over-perform or under-perform, neutral, hold—to describe their recommendations. But the meanings of these terms can differ from firm to firm.

Preferred Apartment Communities Inc (NYSE:APTS) received a stock rating downgrade from Compass Point on Wednesday. In a note to investors, the firm issued a Neutral rating and reduced the target price on the stock from $12.5 to $12. The average analysts that follow this company have a ‘Strong Buy’ rating on this stock, according to Zacks Investment Research. Four maintain strong buy rating, Zero set the stock as buy. is formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States.

Performance Sports Group Ltd (NYSE:PSG) was dropped to Neutral from Buy at RBC Capital Mkts with a $3.5 price target. It has earned a consensus Strong Buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 3 have assigned a hold rating, 3 say it’s a buy and 4 have assigned a strong buy rating to the company.

Carmike Cinemas Inc (NASDAQ:CKEC) shares were not changed on Wednesday after analysts at RBC Capital Mkts downgraded the stock to Sector Perform from Outperform while putting a $30 price target on the stock. The stock has a consensus Buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 5 have assigned a hold rating, 1 says it’s a buy, and 2 have assigned a strong buy rating to the company.

 

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