Benzinga's Top Downgrades

Analysts at Citigroup downgraded Waddell & Reed Financial, Inc. (NYSE: WDR) from Neutral to Sell. Waddell & Reed Financial shares closed at $28.97 on Monday.

BTIG Research downgraded Verizon Communications Inc. (NYSE: VZ) from Buy to Neutral. Verizon Communications shares closed at $45.45 on Monday.

RBC Capital downgraded Johnson Controls Inc (NYSE: JCI) from Outperform to Sector Perform. Johnson Controls shares closed at $39.67 on Monday.

Analysts at UBS downgraded Dow Chemical Co (NYSE: DOW) from Buy to Neutral. Dow Chemical shares closed at $51.28 on Monday.

Analysts at Morgan Stanley downgraded Safe Bulkers, Inc. (NYSE: SB) from Overweight to Equal-weight. The price target for Safe Bulkers has been lowered from $3.50 to $1. Safe Bulkers shares closed at $0.938 on Monday.

Credit Suisse downgraded KB Home (NYSE: KBH) from Neutral to Underperform. The price target for KB Home has been lowered from $17 to $12. KB Home shares closed at $12.38 on Monday.

Goldman Sachs downgraded VeriFone Systems Inc (NYSE: PAY) from Buy to Neutral. VeriFone shares closed at $26.45 on Monday.

Analysts at RBC Capital downgraded American Axle & Manufact. Holdings, Inc. (NYSE: AXL) from Outperform to Sector Perform. American Axle & Manufact. Holdings shares closed at $20.79 on Monday.

Analysts at Argus Research downgraded Apache Corporation (NYSE: APA) from Buy to Hold. Apache shares closed at $43.49 on Monday.

Analysts at DA Davidson downgraded Jarden Corp (NYSE: JAH) from Buy to Neutral. The price target for Jarden has been lowered from $64 to $56. Jarden shares closed at $54.09 on Monday.