Equities Research Analysts’ Updated EPS Estimates for April, 22nd (ADTN, AMZN, AVP, BDX, CFX, CSX, FFIN, GHM, GNFT, HON)

Equities Research Analysts’ updated eps estimates for Monday, April 22nd:

ADTRAN (NASDAQ:ADTN) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $16.00 target price on the stock. According to Zacks, “ADTRAN reported better-than-expected results in first-quarter 2019 wherein both the top line and the bottom line increased year over year. It is well positioned to optimize its customer base, geographic and product diversity momentum. It expects to gain from increased customer engagements across its comprehensive portfolio of software-defined access and 10G solutions. Its global strategy of diversification across geographies and markets is laudable. It expects solid traction for ultra broadband and Fiber-To-The-Home solutions along with SD access and EPON solutions. ADTRAN’s global leadership in software-defined access is likely to ensure a steady stream of revenues as it helps clients reduce cost and accelerate service delivery. The stock has outperformed the industry in the past year on average. However, high technological obsolescence increases its operating costs with continuous investments in R&D efforts, limiting growth potential.”

Amazon.com (NASDAQ:AMZN) had its outperform rating reaffirmed by analysts at Wedbush.

Avon Products (NYSE:AVP) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Shares of Avon underperformed the industry in the past month as investors remain wary its dismal surprise history. It delivered negative earnings surprise in 11 of the last 14 quarters, with sales miss in seven of the past 10 quarters. The softness across its Representatives over the past few quarters is mainly blamed for the dismal quarterly performances. In fourth-quarter 2018, Avon???s top and bottom lines missed estimates and declined year over year. Moreover, the company witnessed sharp decline in margins owing to higher cost of investments to boost Representatives growth. However, the company is gaining momentum from ???Open Up Avon??? strategy that focuses on reviving the direct selling business, renovating brands and enhancing e-commerce capabilities. The company generated $40 million of cost savings in 2018, from this strategy. Avon also remains committed to attaining its long-term financial targets for 2021.”

Becton Dickinson and (NYSE:BDX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Becton, Dickinson have underperformed the industry year to date. Contraction in gross and operating margins in recent times is worrisome for Becton, Dickinson. Customer ordering patterns are also expected to negatively impact fiscal second-quarter results. Management expects unfavorable foreign currency to remain headwinds in fiscal 2019. Stiff price competition in the MedTech space adds to the woes. However, solid performance by the core BD Medical and Life Sciences units buoys optimism. Domestic and international revenues increased year over year in recent times. Management is optimistic about the C.R. Bard buyout which has consistently proven to be accretive. Notably, a series of product launches and regulatory approvals in recent times continue to boost the stock. The company has kept its fiscal 2019 guidance intact.”

Colfax (NYSE:CFX) had its buy rating reiterated by analysts at Raymond James. The firm currently has a $21.00 target price on the stock.

CSX (NASDAQ:CSX) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $88.00 target price on the stock. According to Zacks, “Shares of CSX have outperformed its industry in a year's time. Ushering in further good news, the company performed well in the first quarter of 2019, wherein earnings and revenues surpassed the respective estimates. Both the metrics also improved year over year. Results were aided by favorable pricing and volume growth. Lower operating expenses too aided bottom-line growth. Furthermore, operating ratio (operating expenses as a percentage of revenues) improved in the quarter, courtesy of its cost-control measures. These apart, the company's efforts to reward its shareholders through dividend payments and buybacks are encouraging. This February, CSX announced a 9.1% dividend hike to 24 cents per share. However, below-par performance of the company's intermodal unit in the first quarter is worrisome. Additionally, CSX's high debt levels raise concern.”

First Financial Bankshares (NASDAQ:FFIN) had its neutral rating reaffirmed by analysts at Stephens. The analysts wrote, “We view operating EPS as $0.57 (ex pension plan settlement), above consensus forecasts of $0.56. PPNR of $47.5 million was below consensus forecast of $48.4 million but was offset by an LLP expense beat of $600K due to credit improvement. Our rating is Equal-Weight.””

Ascendiant Capital Markets assumed coverage on shares of Graham (NYSE:GHM). The firm issued a buy rating and a $1.59 target price on the stock.

Barclays PLC assumed coverage on shares of GENFIT S A/ADR (NASDAQ:GNFT). The firm issued an overweight rating and a $55.00 price target on the stock.

Honeywell International (NYSE:HON) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $182.00 target price on the stock. According to Zacks, “In first-quarter 2019, Honeywell's earnings grew 12.9% year over year and also exceeded the Zacks Consensus Estimate by 4.9%. Over the past six months, the company’s shares have outperformed the industry on average. Honeywell believes that strength in its commercial aerospace, warehouse and process automation’s businesses as well as solid demand for its commercial fire and security products will boost revenues in the quarters ahead. Stronger sales volumes, increased productivity and ongoing commercial effectiveness actions will likely improve near-term profitability. For 2019, Honeywell raised earnings guidance from $7.80-$8.10 to $7.90-$8.15 per share. A strong cash position and focus on rewarding shareholders handsomely through dividends and share repurchases will work in its favor. Also, the company has been witnessing solid activity on the earnings estimate revision front, reflecting bullish sentiment.”

Interactive Brokers Group (IEX:IBKR) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Shares of Interactive Brokers have outperformed the industry over the past six months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Its first-quarter 2019 results benefited from rise in revenues, while lower daily average revenue trades (DARTs) and increase in expenses were headwinds. Low level of compensation expenses, development of proprietary software and rise in emerging market customers continue to support its profitability. Further, the company’s steady capital deployments and no debt indicate a strong balance sheet position. However, the company’s high dependence on IBG remains a major concern. Also, mounting non-interest expenses will likely hamper bottom-line growth to some extent.”

IBM (NYSE:IBM) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “IBM is benefiting from operating efficiency, cost cutting and lower share count. Moreover, the company’s improving position in the hosted cloud, security, blockchain and analytics bodes well. IBM is witnessing growth in industry verticals like health, retail and banking. Solid adoption of Watson Health and broad-based growth in Payer, Provider, Imaging and Life Sciences domains is notable. However, stiff competition does not bode well for Storage hardware segment. Additionally, IBM’s ongoing business model transition to cloud is time-consuming, which is likely to be a headwind. Further, ballooning debt levels have been troubling IBM lately. Notably, shares of IBM have underperformed the industry in the past one year.”

County Bancorp (NASDAQ:ICBK) was upgraded by analysts at Sandler O’Neill from a hold rating to a buy rating. Sandler O’Neill currently has $20.00 target price on the stock, up from their previous target price of $18.00.

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target increased by BMO Capital Markets to $96.00. They currently have an outperform rating on the stock.

ManpowerGroup (NYSE:MAN) had its target price increased by BMO Capital Markets to $93.00. The firm currently has a market perform rating on the stock.

Masco (NYSE:MAS) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Masco have outperformed its industry year to date. Masco, being one of the leading cabinet manufacturers in the United States, operates through various divisions and offers a large number of products. The company is well poised in the near term on expectations of continued momentum in housing market backed by improving economy, low unemployment levels and positive consumer confidence. Increased repair and remodeling activity are also expected to generate higher revenues. However, higher raw material and ERP costs, as well as logistics expenses pose significant threats to the company's margins. Notably, Masco’s adjusted gross and operating margins contracted 200 basis points (bps) and 60 bps, respectively, in 2018. Earnings estimates have remained unchanged for 2019 over the past 30 days, limiting upside potential for the stock.”

Nice (NASDAQ:NICE) had its outperform rating reiterated by analysts at JMP Securities. They currently have a $140.00 target price on the stock, up from their previous target price of $120.00.

Progressive (NYSE:PGR) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $85.00 target price on the stock. According to Zacks, “Progressive’s first-quarter 2019 earnings per share beat the Zacks Consensus Estimate and improved year over year. Higher premiums, investment income, and growth in fees and other revenues as well as service revenues aided the top line. Shares of Progressive have outperformed the industry year to date. Progressive’s focus to become a one-stop insurance destination catering to customers opting for a combination of home and auto insurance bodes well for long-term growth. Policies in force and retention ratio will continue to remain healthy. The company’s Snapshot, Robinson and Home Quote Explorer programs should continue to drive its business. It focuses on paying back its shareholders via dividends as well as share repurchases. However, the company’s growth could be challenged by intense competition. Exposure to catastrophe events and escalating expenses remain headwinds.”

Rogers Communications (NYSE:RCI) (TSE:RCI.B) was downgraded by analysts at Howard Weil from a sector outperform rating to a sector perform rating.

Sapiens International (NASDAQ:SPNS) was downgraded by analysts at BidaskClub from a strong-buy rating to a buy rating.

Texas Capital Bancshares (NASDAQ:TCBI) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Shares of Texas Capital have underperformed the industry, over the past six months. The company has a disappointing earnings surprise history, beating the Zacks Consensus Estimate in only one of the trailing four quarters. The company’s first-quarter 2019 earnings reflected rise in revenues, aided by higher loans and deposit balances. However, provisions and expenses escalated. Texas Capital’s persistently increasing expenses, mainly due to hiring of experienced bankers, is likely to impede bottom-line growth to some extent. Moreover, lack of geographical diversification remains a concern. However, growth in revenues and favorable interest rates are likely to support the company. Also, the company’s diversified fee income sources, along with rising loans and deposits balances, are anticipated to drive top-line growth.”

Tractor Supply (NASDAQ:TSCO) had its price target increased by Telsey Advisory Group from $92.00 to $98.00. The firm currently has a market perform rating on the stock.

Tractor Supply (NASDAQ:TSCO) had its target price raised by Telsey Advisory Group from $92.00 to $98.00. The firm currently has a market perform rating on the stock.

Umpqua (NASDAQ:UMPQ) had its hold rating reissued by analysts at Stephens. Stephens currently has a $21.00 target price on the stock.

Union Pacific (NYSE:UNP) had its target price boosted by BMO Capital Markets to $190.00. They currently have an outperform rating on the stock.

Summit Insights began coverage on shares of Zoom Video Communications (NASDAQ:ZM). The firm issued a sell rating on the stock.

Canaccord Genuity began coverage on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE). Canaccord Genuity issued a buy rating on the stock.

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