Roth Capital Cuts Zhongpin (HOGS) to Neutral, Shares Down Nearly 6%

Zhongpin (NASDAQ: HOGS) shares are getting whacked Thursday afternoon following an evening downgrade from an analyst at Roth Capital Wednesday. The firm now rates Zhongpin shares a Neutral, down from Buy previously. Roth Capital maintains a $10 price target.

The firm cites worries related to capex per facility, saying checks have suggested a "fairly wide difference" related to the company's investment for recent facilities compared to similar projects. Roth also uncovered both news reports and public records which indicate a spread in per unit land cost and government reported selling prices.

Shares of Zhongpin last traded at $9.18, down 5.9 percent from Wednesday's closing price.

For more ratings news on Zhongpin click here and for the rating history of Zhongpin click here.

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