Streetbeat News

Analyst Ratings

SYM

Shares of Symbotic Inc. (NASDAQ:SYM) fell after William Blair analyst Ross Sparenblek downgraded the stock from Outperform to Market Perform. Despite acknowledging the company's strong Q3 results and promising 'land-and-expand' strategy, Sparenblek deemed the company's valuation to be stretched at 80.0 times his fiscal 2025 EBITDA estimate and 11.0 times his fiscal 2025 revenue estimate. He also noted a large short-cover rally in Symbotic’s stock, suggesting a potential revisitation of the rating if shares consolidate.

Portfolio Pulse from Ryan Gustafson

August 04, 2023 | 10:36 am

CMTG

Claros Mortgage Trust (NYSE:CMTG) reported Q2 losses of $(0.10) per share, missing the analyst consensus estimate of $0.30 by 133.33%. This is a 123.26% decrease from the same period last year. The company also reported quarterly sales of $80.92 million, missing the analyst consensus estimate of $80.99 million by 0.08%. However, this is a 16.88% increase from the same period last year.

Portfolio Pulse from vinayak@benzinga.com

August 04, 2023 | 10:36 am

IDXX

IDEXX Laboratories Inc reported Q2 FY23 sales of $943.63 million, beating the consensus of $927.84 million. The company also raised its FY23 revenue guidance from $3.615 billion-$3.70 billion to $3.66 billion-$3.715 billion. William Blair analysts reaffirmed the resilience of the global animal health market and maintained an Outperform rating for the stock. However, IDXX shares closed down by 4.04% at $532.30 on Tuesday.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 10:35 am

ENLC

EnLink Midstream (ENLC) reported Q2 earnings of $0.12 per share, beating the analyst consensus estimate of $0.11 by 9.09%. However, this is a 29.41% decrease from the same period last year. The company's quarterly sales of $1.53 billion missed the analyst consensus estimate of $1.91 billion by 20.02%, marking a 41.18% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:35 am

RCKY

TMC

TMC The Metals Company estimates it will need an additional $60M-$70M, on top of its $20M cash on hand, to apply for an exploitation contract for NORI Area D after the July 2024 ISA meeting. Meanwhile, Rocky Brands reported quarterly sales of $99.82M, missing the analyst consensus estimate of $103.80M by 3.83% and marking a 38.40% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:34 am

VRTS

Virtus Inv (NASDAQ:VRTS) has received four somewhat bearish ratings from analysts in the last quarter. The average 12-month price target for the stock, according to these analysts, is $164.5, which is a 5.96% increase from the previous average price target of $155.25.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:34 am

AEO

American Eagle Outfitters (NYSE:AEO) has received mixed analyst ratings in the last quarter, with 1 bullish, 1 somewhat bullish, 9 indifferent, and 1 somewhat bearish. The average 12-month price target for the company is $13.25, a decrease of 10.05% from the previous average of $14.73.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:34 am

OVV

Analysts have provided a mix of bullish and indifferent ratings for Ovintiv (NYSE:OVV) in the last quarter. The average price target is $47.31, slightly above the current price of $46.86. This represents a 0.65% decrease from the previous average price target of $47.62.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:34 am

HRMY

Harmony Biosciences (NASDAQ:HRMY) has received 5 bullish analyst ratings in the last quarter, with no bearish or indifferent ratings. The average 12-month price target for the company is $68.8, a decrease of 8.27% from the previous average of $75.00.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:34 am

IBP

Installed Building Prods (NYSE:IBP) has received one bullish and five indifferent analyst ratings in the last quarter. The average 12-month price target for the company has increased by 16.09% from the previous average of $117.00 to $135.83, with a high of $150.00 and a low of $111.00.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:34 am