DA Davidson Downgrades Nutrisystem (NTRI) to Underperform
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Rating Summary:
0 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 3 | New: 2
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DA Davidson analyst Linda Bolton Weiser downgraded Nutrisystem (NASDAQ: NTRI) from Neutral to Underperform with a price target of $28.00 (from $40.00).
The analyst commented, " We have lower confidence that NTRI can achieve the >30% EBITDA growth in 4Q18 that is implied by the guidance, and are lowering our estimates, PT to $28 from $40, and rating to UNDERPERFORM from Neutral. We believe NTRI could cut its 2018 guidance when it reports 3Q18 results in a few weeks. We are reducing our 2018E EPS to $1.99 from $2.06 (consensus is $2.11 and guidance is $2.07-$2.17). We think another hit to management's credibility and increased uncertainty surrounding diet season 2019 could cause the stock to trade to the low end of its 3-year P/E range, which is 11x. Our $28 PT is based on 11x 2020E EPS of $2.57 (reduced from $2.65)."
For an analyst ratings summary and ratings history on Nutrisystem click here. For more ratings news on Nutrisystem click here.
Shares of Nutrisystem closed at $35.95 yesterday.
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