Jefferies Pulls the Plug on Roundy’s (RNDY), Downgrades to Hold

August 10, 2012 7:21 AM EDT
Get Alerts RNDY Hot Sheet
Price: $3.60 --0%

Rating Summary:
    0 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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Jefferies downgraded Roundy's (NYSE: RNDY) from Buy to Hold with a price target of $8.00 (from $13.00).

“The confluence of a tough economy as well as the impact from competitive store openings and an elevated promotional climate are leading to sales and margin pressure in the core business,” said analyst Scott A. Mushkin.

“At the same time, the Mariano’s banner in Chicago appears to be exceeding expectations; however, these benefits are being outweighed by the headwinds. Net, net, EBITDA is coming down for FY12 and at this juncture FY13 does not look much better,” he added.

For an analyst ratings summary and ratings history on Roundy's click here. For more ratings news on Roundy's click here.

Shares of Roundy's closed at $10.23 yesterday.

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