UPDATE: Oppenheimer Downgrades Jack Henry (JKHY) to Perform
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- Alkermes plc (ALKS) Announces Third ALKS 5461 Phase 3 Met Primary Endpoint in MDD
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Updated - August 24, 2016 9:24 AM EDT)
Oppenheimer downgraded Jack Henry (NASDAQ: JKHY) from Outperform to Perform and removed its price target (prior $86.00). The downgrade was tied to valuation.
Analyst Glenn Greene said, "While we generally offer wide valuation latitude, JKHY has become relatively fairly valued, in our view. The shares trade at a 29x our/Street consensus NTM P/E multiple, a 66% premium to the S&P 500 and a ~32% premium to peer FISV (although just a ~5% EV/EBITDA premium). Further, JKHY now trades at a 6+ turn (29%) premium to its 5-year average NTM P/E of ~22x."
Shares of Jack Henry closed at $88.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Cuts Price Target on Syntel, Inc. (SYNT) Following Weak 3Q
- Halliburton (HAL) PT Raised to $61 at Nomura Following Q3
- Dougherty & Co Starts EMCORE (EMKR) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesStandard & Poor's
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!