Starbucks (SBUX), Hawaiian Air parent Hawaiian Holdings (HA), Anadarko Petroleum (APC) and Microsemi (MSCC) were all downgraded Wednesday, while recent IPO Floor & Decor (FND) was started with a neutral rating.
Starbucks
Starbucks was downgraded to neutral from outperform at Wedbush Securities. Analyst Nick Setyan kept his 65 price target on the coffee giant but said channel checks show slightly weaker same-store sales vs. consensus forecasts.
Starbucks shares fell 1.1% to 60.27, closing below its 50-day moving average on the stock market today. While the stock is still in buy range above a 59.64 entry, it has fallen for eight straight sessions, including the last five in above-average trade.
Hawaiian Holdings
The airline operator was downgraded to sell from hold at Stifel and had its price target lowered to 40 from 60.
Analyst Joseph DeNardi downgraded the airline after United Airlines (UAL) said it would boost capacity in Hawaii by 20% next year and said that competitive capacity is "finally coming" to the islands.
Hawaiian shares tumbled 10.5% to 77.56. United shares edged up 0.1%.
Anadarko Petroleum
The oil and gas company was downgraded to underweight at Barclays with a 42 price target. Analyst Thomas Driscoll said the stock has received too much attention over gains in U.S. shale, as only one-third of the company's first-quarter production was from U.S. onshore assets.
Shares fell 3.9% to 47.28 as crude oil prices tumbled below $45 a barrel.
Microsemi
The semiconductor company was downgraded to outperform from top pick at RBC Capital and had its price target cut to 58 from 64.
Microsemi shares slid 1.85% to 48.22.
Floor & Decor
The operator of warehouse-style stores selling flooring and other accessories was started with a neutral rating and 45 price target at Wedbush.
Floor & Decor shares rose 3% to 40.78. The stock came public at 21 in late April.
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