Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Air Products (APD) downgraded to Equal Weight from Overweight at Barclays with analyst Duffy Fischer citing valuation for the downgrade. 2. At Home Group (HOME) downgraded to Hold from Buy at Craig-Hallum with analyst Jeremy Hamblin viewing the value of the deal to sell the company to PE firm Hellman and Friedman for $2.8B as too low given momentum in the business and a vastly improved balance sheet that significantly reduces risk in the stock. 3. ChemoCentryx (CCXI) downgraded to Neutral from Overweight at Piper Sandler, downgraded to Underweight from Neutral at JPMorgan, downgraded to Hold from Buy at Stifel, downgraded to Market Perform from Outperform at SVB Leerink and downgraded to Outperform from Strong Buy at Raymond James. 4. Synaptics (SYNA) downgraded to Hold from Buy at Summit Insights with analyst Kinngai Chan saying the company has completed its transition to become an internet of things franchise, and while Synaptics should continue to outperform earnings expectations through the 2nd half of this year, this outperformance will begin to moderate as its gross margin is now approaching its target financial model of 57%. 5. Wingstop (WING) downgraded to Neutral from Buy at Northcoast. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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