Stocks Hitting 52-Week Lows
Post Holdings (NYSE: POST) shares touched a new 52-week low of $33.80 after the company reported a Q3 loss of $0.30 per share on revenue of $633.0 million. The company also announced its plans to acquire American Blanching Company. SunTrust Robinson Humphrey downgraded Post Holdings from Buy to Hold and lowered the price target from $70.00 to $45.00.
Sotheby's (NYSE: BID) shares tumbled 11.97% to reach a new 52-week low of $35.82 after the company reported weaker-than-expected second-quarter earnings.
Volcano (NASDAQ: VOLC) shares dipped 19.84% to reach a new 52-week low of $12.65 on Q2 results. The company reported Q2 earnings of $0.01 per share on revenue of $102.60 million. Volcano announced its plans to divest its Axsun Technologies subsidiary and also announced the litigation settlement agreement with St. Jude Medical (NYSE: STJ). Oppenheimer downgraded Volcano from Outperform to Market Perform and lowered the price target from $22.00 to $15.00.
Marrone Bio Innovations (NASDAQ: MBII) shares fell 42.45% to touch a new 52-week low of $5.49 after the company reported Q2 results and announced the resignation of its COO. Piper Jaffray downgraded Marrone Bio Innovations from Overweight to Neutral and lowered the price target from $19.00 to $11.00.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.