The Duckhorn Portfolio: Rating Downgrade As I Am Not Optimistic About H2 Recovery [Seeking Alpha]
The Duckhorn Portfolio, Inc. (NAPA)
Company Research
Source: Seeking Alpha
NAPA reported a decline in revenue and weak sales performance across all channels, indicating continued weakness in demand. I believe there is room for further downside surprises and doubt that NAPA can show any positive surprises given the current macroeconomic conditions. Investment action I recommended a hold rating for The Duckhorn Portfolio ( NYSE: NAPA ) when I wrote about it the last time, as I was very concerned about NAPA's near-term performance given the poor consumer demand background and a lack of positive catalysts. Based on my current outlook and analysis, I recommend a sell rating. My view is that management guidance is too optimistic, as they seem to expect the 2H24 macro environment to recover, which I am less optimistic about given the stick inflation data, hot labor market, and severe housing undersupply situation, which makes me think that there is little reason for the Feds to cut rates at the moment. Given the optimism embedded in NAPA's guide and its unde
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NAPA
News
- The Duckhorn Portfolio, Inc. (NYSE: NAPA) was downgraded by analysts at Barclays PLC from an "overweight" rating to an "equal weight" rating. They now have a $8.00 price target on the stock, down previously from $11.00.MarketBeat
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- The Duckhorn Portfolio, Inc. (NYSE: NAPA) was upgraded by analysts at TheStreet from a "d" rating to a "c" rating.MarketBeat
- The Duckhorn Portfolio, Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now [Yahoo! Finance]Yahoo! Finance
NAPA
Earnings
- 3/7/24 - Beat
NAPA
Sec Filings
- 4/10/24 - Form 4
- 4/9/24 - Form 144
- 3/29/24 - Form 4
- NAPA's page on the SEC website