Equities Research Analysts’ Downgrades for January, 21st (HBNC, HEES, HF, HFC, HGIC, HTBK, IDSY, IIVI, INTL, IPXL, ITG, KNXA, KS, KT, MGAM, MKTX, MNTX, NEOG, NFBK, NGL)

Analysts’ downgrades for Saturday, January 21st:

Horizon Bancorp (NASDAQ: HBNC) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

H&E Equipment Services, Inc. (NASDAQ: HEES) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

HFF Inc. (NYSE: HF) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

NYSE (NYSE: HFC) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Harleysville Group Inc. (NASDAQ: HGIC) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Heritage Commerce Corp (NASDAQ: HTBK) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

I.D. Systems Inc. (NASDAQ: IDSY) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

II-VI, Inc. (NASDAQ: IIVI) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

International Assets (NASDAQ: INTL) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Impax Laboratories, Inc. (NASDAQ: IPXL) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Investment Technology Group (NYSE: ITG) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Kenexa Co. (NASDAQ: KNXA) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

KapStone Paper and Packaging (NYSE: KS) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

Korea Telecom Corpor (NYSE: KT) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Multimedia Games (NASDAQ: MGAM) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

MarketAxess Holdings Inc. (NASDAQ: MKTX) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

Manitex International, Inc. (NASDAQ: MNTX) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

Neogen Co. (NASDAQ: NEOG) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

Northfield Bancorp (NASDAQ: NFBK) was downgraded by analysts at Zacks Investment Research from an “outperform” rating to a “neutral” rating.

NGL Energy Partners (NYSE: NGL) was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating.

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