NEW YORK (TheStreet) -- Tupperware Brands Corp. (TUP) - Get Report stock is declining 1.44% to $47.87 in pre-market trading Friday morning after the home and beauty products manufacturer was downgraded to "sector weight" from "overweight" at KeyBanc Capital Markets.
"Even with tempered FY16 organic sales growth and despite some micro levers to pull, we are a bit more cautious on TUP's ability to navigate through a very tough macro environment," KeyBanc analysts wrote in a note this morning.
Last month, Orlando, FL-based Tupperware Brands set its organic sales growth guidance at 3% to 5% for the 2016 full year, but foreign exchange rates in emerging markets could change rapidly through the year, challenging the company's expectations.
Additionally, meeting the low end of the organic sales guidance could not "be enough to move the stock higher," analysts added.
Earlier this week, Tupperware Brands missed the deadline to file its annual report with the SEC. The company plans to submit the 10-K filling within the 15-day extension period.
"We do not believe it will result in anything material, but it is another unnecessary issue for the story," analysts said about the delay.
Separately, Tupperware Brands has a "hold" rating and a letter grade of C+ at TheStreet Ratings because of the company's strengths, such as expanding profit margins and notable return on equity, and its weaknesses, including deteriorating net income, generally higher debt management risk and weak operating cash flow.
You can view the full analysis from the report here: TUP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.