Thursday, February 20, 2014

Intuit Downgraded to “Underperform” at Zacks (INTU)

 Zach Kirkland for WKRB writes: Intuit (NASDAQ:INTU) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, American Banking News reports. They currently have a $71.40 price target on the stock. Zacks‘ target price indicates a potential downside of 2.75% from the company’s current price.

Intuit (NASDAQ:INTU) traded up 0.53% on Thursday, hitting $73.81. 949,217 shares of the company’s stock traded hands. Intuit has a 52-week low of $55.54 and a 52-week high of $77.78. The stock’s 50-day moving average is $73.95 and its 200-day moving average is $70.31. The company has a market cap of $21.025 billion and a P/E ratio of 25.52.
INTU has been the subject of a number of other recent research reports. Analysts at Deutsche Bank cut their price target on shares of Intuit from $68.00 to $65.00 in a research note on Thursday, February 13th. Separately, analysts at Evercore Partners downgraded shares of Intuit from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, February 12th. They now have a $62.00 price target on the stock, up previously from $10.00. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.67.