H&M (NYSE:HNNMY) Receives a Downgrade
Shares of New York-listed H&M (NYSE:HNNMY) Have been downgraded by research analysts at Bank of America (Merrill Lynch). Bank of America (Merrill Lynch) cut their rating for the $54.52 billion market cap company to a Underperform from their previous Buy rating.
Approximately 8,313 shares of stock traded hands. HENNES & MAURITZ AB (NYSE:HNNMY) has declined 9.78% since April 29, 2015 and is downtrending. It has underperformed by 9.58% the S&P500.
According to Zacks Investment Research, “H & M Hennes & Mauritz AB offers fashion products with a broad and varied selection for women, men, teens and children through retail outlets mainly in Europe. The Company also sells its products via catalogues and the Internet. The women’s collection includes basics to tailored classics, sportswear, maternity clothes, accessories and shoes. The men’s collections include tailored pieces, modern basics, leisurewear accessories, underwear and shoes. The jeans & denim includes traditional five-pocket jeans, trendy fashion jeans and denim models in organic cotton. H&M’s cosmetics department provides a wide range of makeup, skin care and body care products. H & M Hennes & Mauritz AB is a subsidiary of Ramsbury Invest AB and is headquartered in Stockholm, Sweden.” Get a free copy of the Zacks research report on HENNES & MAURITZ AB (HNNMY).