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.
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