RadioShack (NYSE: RSH) was downgraded by equities research analysts at Griffin Securities to a “hold” rating in a research note issued to investors on Tuesday. They currently have a $8.00 price target on the stock, down from their previous price target of $20.00.
Separately, analysts at Deutsche Bank (NYSE: DB) reiterated a “hold” rating on shares of RadioShack in a research note to investors on Tuesday. Analysts at RBC Capital (NYSE: RY) cut their price target on shares of RadioShack from $11.00 to $9.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. Also, analysts at Caris & Co. downgraded shares of RadioShack to an “average” rating in a research note to investors on Tuesday.
RadioShack Corporation (RadioShack) is engaged in the retail sale of consumer electronics goods and services through the RadioShack store chain and non-RadioShack-branded kiosk operations. The Company’s stores are located in shopping malls and strip centers, as well as individual storefronts. At December 31, 2009, RadioShack operated 4476 United States Company-operated stores under the RadioShack brand located throughout the United States, as well as in Puerto Rico and the United States Virgin Islands. In December 2008, the Company acquired the remaining interest (slightly more than 50%) of the Mexican joint venture – RadioShack de Mexico, S.A. de C.V. – with Grupo Gigante, S.A.B. de C.V.
Shares of RadioShack traded down 29.62% during mid-day trading on Tuesday, hitting $7.20. RadioShack has a 52 week low of $9.15 and a 52 week high of $16.70. The stock’s 50-day moving average is $9.97 and its 200-day moving average is $11.83. The company has a market cap of $718.8 million and a P/E ratio of 9.26.