Stocks Slumping to 52-Week Lows: Diamond Foods, SuperValu
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.
Shares of the steel company fell after Goldman Sachs downgraded it to sell from neutral on Sunday.
"We downgrade AKS to Sell with a new $5 six-month price target (implying 17% downside)," Goldman Sachs analysts wrote in a report on Sunday. "We expect continuing weak flat steel prices, a highly leveraged balance sheet, high pension funding requirements, high capex to fund its raw material strategy, and no sign of a turnaround in its lucrative electrical steel end market to continue to weigh on the stock. With the stock's recent underperformance, we see CMC as fully valued and upgrade our rating to Neutral from Sell and raise our six-month price target to $14.00 from $12.50."
Shares of AK Steel hit a 52-week low on Monday of $5.07. The stock's 52-week high of $16.75 was set on July 7.
Ten of the 20 analysts who cover AK Steel rated it hold. Six analysts gave the stock a buy rating and four rated it sell.
The stock has fallen 39.16% year to date.
"We are reiterating our Neutral rating and adjusting our price target from $1.50 to $1.25 on CWTR shares following Coldwater Creek's FQ1 earnings report," Piper Jaffray analysts wrote in a May 30 report. "Although traffic trends remain challenging and the adult women's apparel market continues to be promotional, we are encouraged to see an 8% increase in average ticket and a 1% increase in conversion rate. Continued progress in inventory management should help to preserve cash flow, as FQ1 inventory was down 19% y/y and management expects FQ2 inventory down in the mid-to-high teens. Traffic remains the primary headwind facing CWTR, however the launch of a new loyalty program in February could help to bring more traffic through the door during the critical fall selling season."