Pacific Sunwear falls 11% on two more analyst downgrades
Shares of Pacific Sunwear of California Inc. (Nasdaq:PSUN) dipped by nearly 11% this morning after the company’s stock was downgraded by two analysts in two days.
Earlier today, MKM Partners downgraded Pacific Sunwear to “sell” from “neutral.” And on Monday, Riley & Co. downgraded the stock to “neutral” from “buy.”
On Aug. 22, Pacific Sunwear shares lost nearly one-third their value and sunk to a new 52-week low after four analysts downgraded the stock in the wake of the company’s revision of its third- and fourth-quarter guidance.
By late morning, Pacific Sunwear is at $6.71, down $0.83 from Monday’s close. The stock has traded as low as $5 and as high as $18.44 in the past year.
For detailed price information and news stories on Pacific Sunwear, click PSUN.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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