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Shares of Pizza Hut and KFC owner Yum Brands (YUM) - Get Yum! Brands Inc. Report eased on Tuesday after analysts at Argus Research downgraded the stock, citing slowing sales.

YUM!'s stock price fell 1.3% to $99.62 in the regular trading session.

Argus analyst John Staszak lowered his rating on the restaurant operator to hold from buy, with a price target of $120 a share.

The Argus analyst sees Pizza Hut's current flat sales extending through 2020 as Yum grapples with competition from delivery services GrubHub and UberEats  (UBER) - Get Uber Technologies Inc. Report and the company's decision to place a greater emphasis on off-premise orders, Bloomberg reported.

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Meanwhile, KFC has its own pack of competitors to worry about, Argus noted. Chick-fil-A and Popeyes, in particular, are eating into sales, with Popeyes gaining traction with the rerelease of its hit chicken sandwich. 

Analysts at Argus slashed their estimates for Yum's earnings. They now forecast earnings per share in 2019 of $3.75 compared with $3.80 previously. The 2020 forecast is now $4.20 a share, down from $4.30, according to the news service.

Of the analysts covering Yum, 17 now have hold ratings on the stock, nine have buys and one has a sell, according to Bloomberg. The average price target is $112.

Same-store sales at Pizza Hut fell 3% in the third quarter, with Yum in the midst of a major overhaul of the brand in a bid to make it more delivery-oriented, Zacks Investment Research noted. 

The company also expects to close hundreds of Pizza Hut locations as it pushes ahead with its modernization plans, according to Zacks.