NEW YORK (TheStreet) -- Shares of Herbalife Ltd (HLF) are tanking, down 15.92% to $47 in pre-market trading Tuesday, after the global nutrition company was downgraded to "neutral" from "buy" at SunTrust with a lowered price target of $55 from $75.
Analysts at the firm cut its rating following disappointing third quarter results with sharply declining profit.
SunTrust cited visibility concerns that include recruitment weakness and plans to roll out 12-month qualification globally in 2015 for its downgrade.
The nutrition supplements company reported third quarter adjusted earnings of $125.1 million, or $1.45 per share, short of analysts' estimates of $1.51 per share.
Revenue for the quarter rose 4% to $1.26 billion from $1.21 billion a year ago, but fell below the consensus revenue estimate of $1.32 billion.
Shares of Herbalife closed at $55.90 at the end of trading on Monday.
Separately, TheStreet Ratings team rates HERBALIFE LTD as a Hold with a ratings score of C.
- You can view the full analysis from the report here: HLF Ratings Report