Jefferies Downgrades Adeptus Health (ADPT) to Hold, Slashes PT to $13
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Jefferies downgraded Adeptus Health (NYSE: ADPT) from Buy to Hold with a price target of $13.00 (from $17.00).
Analyst Brian Tanquilut commented, "We are downgrading ADPT to Hold given our concerns about its balance sheet and cash flows. As A/R DSOs have risen from 54 days LY to 119 days at end-3Q16 and the company is now burning cash ($22MM in 3Q16 vs. cash generation of $11MM in 2Q15), ADPT is in a tight liquidity position and will have to raise more cash through debt/equity offerings in the next few months. Deteriorating SSS revs and EBITDA trends are also likely to keep pressure on ADPT shares NT."
The firm cut Q4 EPS from $0.83 to $0.22, FY 2016 EPS from $2.28 to $1.23 and FY 2017 EPS from $3.25 to $1.28.
Shares of Adeptus Health closed at $26.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- Stifel Raises Price Target on Clean Harbors (CLH) to $60; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!