NEW YORK (TheStreet) -- The following stocks sank to 52-week lows on Monday: Diamond Foods (DMND), AK Steel (AKS), Coldwater Creek (CWTR), SuperValu (SVU), U.S. Steel (X) and Green Mountain Coffee Roasters (GMCR).
The food products company said Monday it can't meet the deadline for restating its earnings and may be delisted from Nasdaq.
Shares of Diamond Foods hit a 52-week low on Monday of $18.55. The stock's 52-week high of $96.13 was set on Sept. 21."Even though we would probably be buyers of DMND once the restatements are published we prefer not to get involved until the company has actually filed its updated financials (and 1Q12 and 2Q12 results)," Jefferies analysts wrote in a June 7 report. "Currently, the company is facing a June 11 (Monday) regulatory target date but should DMND miss this deadline we expect more pressure on the stock and we therefore prefer to stay on the sidelines." Diamond Foods trades at an estimated price-to-earnings ratio for next year of 7.7.2 times; the average among its peers is 18.51. For comaparison, Ralcorp (RAH) has a higher forward P/E of 14.78. Ten of the 12 analysts who cover Diamond Foods rated it hold; two analysts gave the stock a buy rating. The stock has fallen 42.61% year to date.
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