Autodesk (ADSK) Shares Lower as Stifel Nicolaus Sees Softening Demand for AEC Unit
Tweet
Share
E-mail
Get Alerts ADSK Hot Sheet
Price: $253.83 +1.12%
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Shares of Autodesk (Nasdaq: ADSK) are trading modestly lower Wednesday morning, giving up some of the gains following a nearly 4 percent rise on Tuesday. The stock last traded at $36.57.
Investors may be selling the stock following a negative research note from Stifel Nicolaus' Blair Abernethy earlier.
The analyst argues Autodesk's Architecture, Engineering & Construction segment may be harmed by two consecutive monthly declines in the Architectural Billings Index. The reading came in at 47.2, down from 47.6 last quarter. Abernethy believes such a data point could suggest a downturn in demand for infrastructure and building design services.
Stifel maintains a Hold rating on shares of Autodesk.
Track all the market-moving analyst action on Autodesk shares with our Analyst Ratings page.
Investors may be selling the stock following a negative research note from Stifel Nicolaus' Blair Abernethy earlier.
The analyst argues Autodesk's Architecture, Engineering & Construction segment may be harmed by two consecutive monthly declines in the Architectural Billings Index. The reading came in at 47.2, down from 47.6 last quarter. Abernethy believes such a data point could suggest a downturn in demand for infrastructure and building design services.
Stifel maintains a Hold rating on shares of Autodesk.
Track all the market-moving analyst action on Autodesk shares with our Analyst Ratings page.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Idex Corp. (IEX) Reiterated at Buy by Stifel
- Deere (DE) PT Raised to $585 at JPMorgan
- Barclays Previews Autodesk (ADSK) Earnings
Create E-mail Alert Related Categories
Analyst Comments, Trader TalkRelated Entities
StifelSign 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!
