NEW YORK (TheStreet) -- RATINGS CHANGES
Applied Industrial Technologies (AIT - Get Report) was started at sector weight by Keybanc, which didn't give a price target. Challenging industrial activity and greater exposure to upstream oil and gas markets following recent acquisitions, uncertainty exists with regard to the company's earnings trajectory near term, Keybanc said.
Centene (CNC - Get Report) was downgraded to sell from neutral by Goldman Sachs, which set a $69 price target, saying the company trades at a premium to its peers, but faces integration risk from the Health Net (HNT) deal.
Examworks (EXAM) was downgraded to sell from neutral by Goldman Sachs, which set a $37 price target, saying the company is facing slower growth.
Fastenal (FAST) was started at sector weight by Keybanc, which didn't give a price target. Combined with a history of returning capital to shareholders, valuation is increasingly attractive, but patience is required given challenging industrial end markets, OEM/heavy manufacturing exposure, and more difficult second-half comparisons, Keybanc said.
Hasbro was downgraded to market perform from outperform by Wells Fargo, which cited valuation, as the stock has gained 51% year-to-date.
Hasbro was downgraded to neutral from overweight by Piper Jaffray, which cited valuation, based on an $85 price target.
Kaman Corp. (KAMN) was started at sector weight by Keybanc, which didn't give a price target. Time of transition with regard to aerospace programs, industrial fundamentals and ongoing ERP implementation, which, combined with year to date outperformance and current valuation, warrants patience with a recommendation at this time, Keybanc said.
MSC Industrial Direct (MSM) was started at overweight by Keybanc, which set an $85 price target, saying that the company is one of the most compelling growth and margin stories longer term, reflecting its MRO focus and e-commerce operating platform, as well as leverage following growth investments and greater productivity focus.
United Natural Foods (UNFI - Get Report) was downgraded to perform from outperform by Oppenheimer, which set a $60 price target, saying that the company lost its Albertson's contract, which is worth about $400 million a year.
Zulily (ZU) was downgraded to neutral by Goldman Sachs, which set a $16 price target, saying the company is facing slower customer demand.