Latest news with #Benchmark
Yahoo
5 hours ago
- Business
- Yahoo
Trade Desk downgraded, Instacart upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Upgrades: Benchmark upgraded Instacart (CART) to Buy from Hold with a $67 price target. The company's Q2 results and outlook, including a GTV growth inflection, suggest "it may not matter" whether the company is not sustaining category share, as the firm suspects to be the case, since the company is riding "a secular tailwind gaining momentum each quarter," the firm tells investors. Piper Sandler upgraded Monster Beverage (MNST) to Overweight from Neutral with a price target of $74, up from $54. Piper cites better visibility on sustainable sales and margin momentum for the upgrade. It believes the stock re-rating for Monster is sustainable. Goldman Sachs upgraded Peloton (PTON) to Buy from Neutral with a price target of $11.50, up from $7. In its better-than-expected Q4 earnings, the company succeeded in framing of strategic initiatives aimed at delivering differentiated product experiences with an emphasis of widening out beyond fitness and into elements of wellness as well as the potential for a product roadmap focus on personalization, the firm tells investors in a research note. Truist upgraded Gilead (GILD) to Buy from Hold with a price target of $127, up from $108, after the company beat Q2 expectations for sales and EPS, driven by the HIV segment. Piper Sandler upgraded GoDaddy (GDDY) to Overweight from Neutral with a price target of $182, up from $180. The firm believes the shares have entered "oversold territory." Top Downgrades: BofA double downgraded Trade Desk (TTD) to Underperform from Buy with a price target of $55, down from $130. The company's Q3 outlook that implies a deceleration in underlying growth makes it harder to dismiss concerns about competitive pressures and execution, says the firm. MoffettNathanson, Citi and Wedbush also downgraded Trade Desk to Sell or Neutral-equivalent ratings. Wells Fargo downgraded Rockwell Automation (ROK) to Equal Weight from Overweight with a price target of $345, down from $365. The firm sees uncertainty around the company achieving its margin targets from tariffs and the macro environment. Williams Trading downgraded Crocs (CROX) to Hold from Buy with a price target of $80, down from $135, post the Q2 report. The company's outlook came in well below consensus estimates due to a weakening low-end to moderate consumer, the firm tells investors in a research note. Stifel also downgraded Crocs to Hold from Buy with a price target of $85, down from $127. RBC Capital downgraded Cogent (CCOI) to Sector Perform from Outperform with a price target of $40, down from $74, after the company reported Q2 results. The firm, which reduced its estimates following the report, assumes no acceleration in dividend growth and applies a higher discount rate in its valuation to reflect the company's higher risk profile, the firm tells investors. Loop Capital downgraded Installed Building Products (IBP) to Hold from Buy with a higher price target of $255, up from $200, following its Q2 results. The company's single-family and multi-family organic sales significantly outpaced the broader industry thanks to the positive mid-high single digit residential growth in key markets, outsized multi-family demand at its insulation business, and a better relative performance from local builders, the firm tells investors in a research note. Top Initiations: Deutsche Bank initiated coverage of Bowhead Specialty (BOW) with a Buy rating and $39 price target. The company's focus on the casualty excess and surplus market makes it one of the few public insurers still benefiting from meaningful cyclical tailwinds, the firm tells investors in a research note. Jefferies initiated coverage of James Hardie (JHX) with a Buy rating and $34 price target. The firm views the company as a "rare secular growth story." Sign in to access your portfolio
Boston Globe
9 hours ago
- Health
- Boston Globe
Arbitration agreements shield assisted living homes from accountability, some experts say
Advertisement E.J. Lococo, a retired federal agent, said he thought it meant arbitration would apply if 'someone stole my mother's Depends or CD player. . . . I didn't know [that] if you were going to kill my mother, we were going to go to arbitration.' Yet, Lococo alleges, that is exactly what happened. His mother, 80, died in August 2021 from pressure ulcers that her family alleges went untreated for months while she was at the Atrium. Her son filed a wrongful death suit against Benchmark Senior Living LLC, which operates Atrium, on behalf of her estate last year. But in March, a judge granted the facility's motion to dismiss all claims against it, ruling the estate was legally required to resolve them through binding arbitration. Advertisement Facing steep filing fees and the costs of paying an arbitrator, Lococo's lawyer, Michael Grace, said he decided not to pursue arbitration against Benchmark. He is, however, going forward with claims against two outside companies that provided medical care to Judith Lococo while she lived at the Atrium, and were not included in the arbitration agreement. The case underscores the impact of arbitration agreements, which are legal and common in the assisted living industry, but severely restrict residents from holding facilities accountable when something goes wrong, according to elder care lawyers and advocates. 'Americans are more likely to be struck by lightning than win in forced arbitration,' according to a 2019 report by the American Association for Justice, a Washington, D.C.-based nonprofit organization for trial lawyers. Moreover, critics say, residents of assisted living facilities and their family members don't realize the implications of what they're signing. They also don't have to put themselves in that situation: they are not required to sign arbitration agreements as a condition of admission, these critics said, and should not do so. Unlike court proceedings, an arbitrator is privately paid, usually with both sides sharing the expense, which can cost plaintiffs thousands of dollars. Court rules don't apply, meaning plaintiffs may not call as many witnesses or obtain as much evidence as they believe they need to support their case. The arbitrator, usually just one person, is supposed to be neutral. But critics say the facilities too often have a preexisting relationship with an arbitrator who is likely to favor their side. And when arbitrators do rule in favor of plaintiffs, judgments tend to be much lower than those awarded by juries. Advertisement In Lococo's case, the arbitration agreement even included a clause that would require the family to pay Benchmark's legal fees if it filed a lawsuit. Benchmark declined to comment on Lococo's allegations, but said in a statement released by its lawyer that it 'places its highest priority on the care, safety and well-being of our residents.' The lawyer, Joseph M. Desmond, said in an email, 'We stand firmly behind the quality of care we provide and our attentive staff, whose skills consistently receive high marks for resident satisfaction.' He added that Benchmark's policy is 'to offer a voluntary arbitration agreement to individuals moving into our communities' and that arbitration 'is entirely optional and not a requirement for residency.' The Massachusetts Assisted Living Association, which advocates for the assisted living industry in the state, said arbitration has the advantage of resolving disputes more quickly and at a lower cost than through litigation. Arbitration agreements can be negotiated and amended before a resident moves into a home, a spokesperson said. 'Residents and families sometimes select an option for arbitration when they move in so that if they have concerns they can resolve them in a way that is both timely and less costly than litigation,' said Brian Doherty, the group's president. The devastating blaze that killed 10 residents of an assisted living facility in Fall River in July drew attention to the lack of transparency in the industry, which in Massachusetts is more loosely regulated than nursing homes. And, critics say, arbitration agreements contribute to that lack of transparency because the proceedings are not public and settlements are confidential. Those conditions can obscure from public view problems and dysfunction at a facility, details that would come to light in court proceedings. Advertisement Arbitration agreements, so far, at least, appear not to be a factor in the Fall River case. 'It has not come up in our case at this point,' said Robin Gouveia, who filed the first lawsuit on behalf of a Gabriel House resident. Arbitration agreements also include a clause requiring that residents agree not to sue the home or seek other court remedies. 'There's a constitutional right to have a jury and an arbitration clause takes it away with the swipe of a pen,' said David J. Hoey, an attorney who has represented families alleging abuse and neglect at nursing homes and assisted living centers for more than 30 years. 'I've arbitrated enough cases to know that they're unfair to the injured party.' In 2019, he filed a wrongful death suit on behalf of the estate of a client who was allegedly shoved to the ground by another resident at an assisted living home in Danvers, broke his hip, and later died of complications from the injury. A judge dismissed the suit against the operators, citing an arbitration agreement. The arbitrator ruled in favor of Hoey's client. But he said the judgment of $360,000, was much less than Hoey believed a jury would have awarded. The state attorney general's office is drafting new consumer protections for the assisted living industry, but a spokesperson would not say whether changes to arbitration clauses are under consideration. As attorney general in 2017, now-Governor Maura Healey signed on to a letter with counterparts from 16 states that criticized arbitration agreements and opposed a federal proposal to lift a ban on their use in nursing homes. Advertisement The federal government lifted its ban on arbitration clauses in nursing homes following a legal challenge. Instead, in 2019 it adopted new requirements, prohibiting nursing homes from denying admission to anyone who refused to agree to arbitration and allowing residents or their representatives 30 days to change their mind if they do sign one. Assisted living facilities, which are not regulated by the federal government, are not bound by the same arbitration requirements as nursing homes, but generally have adopted the same standards, according to Hoey. A Massachusetts commission formed this year to consider new regulations for the industry recommended a ban on them as a condition of admission in a draft proposal. Other states differ on how they regulate such clauses. Hoey said the agreements aren't foolproof and can be challenged in court on various grounds, including if they were signed by a person who didn't have legal authority to represent a resident or was under duress. Lococo's son said he tapped into his retirement savings to pay for his mother's care, including more than $13,000 a month to the Atrium at Cardinal Drive. Several months after she moved, COVID-19 swept the country, and the facility was placed in lockdown. Lococo said there were staffing shortages and he feared his mother wasn't getting the care they were paying for, which included assistance with bathing, toiletry, and medical treatment. She fell several times in late 2020, and developed bed sores, according to the lawsuit. Advertisement But, Lococo said, nobody at the facility ever told him his mother had developed a pressure ulcer around May 2021 that had allegedly gone untreated. He said he learned of it when the family moved her to another facility three months later and a nurse sent him graphic photos of her wound, showing exposed bone. 'I was enraged,' Lococo said. His mother died days later. 'These places that call themselves assisted living fly under the radar. . . How is this not regulated?' Lococo's attorney, Michael Grace, said family members generally don't think about something bad happening to their relatives after spending so much time and emotional energy finding an assisted living home for them. They waive their right to sue, he said, because they're thinking 'it looks like a good place and nothing is going to go wrong.' Shelley Murphy can be reached at
Yahoo
2 days ago
- Business
- Yahoo
Acacia Research Corp (ACTG) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $51.2 million for Q2 2025. Adjusted EBITDA: $1.9 million for the company. Free Cash Flow: $47.9 million, reflecting cash collection from a settlement in the IP business. Diluted EPS Loss: $0.03 per share; adjusted loss of $0.06 per share. Book Value Per Share: $5.99; excluding non-controlling interests, $5.58. Energy Operations Revenue: $15.3 million, up from $14.2 million year-over-year. Manufacturing Operations Revenue: $29 million for the quarter. Industrial Operations Revenue: $6.6 million, compared to $6.3 million last year. Intellectual Property Revenue: $0.3 million, down from $5.3 million last year. G&A Expenses: $15.5 million, up from $10.1 million last year, with $5.1 million increase due to Deflecto. Operating Loss: $12.4 million, compared to $4.8 million last year. Energy Operations Adjusted EBITDA: $7 million. Manufacturing Operations Adjusted EBITDA: $1.3 million. Industrial Operations Adjusted EBITDA: $0.6 million. Net Loss: $3.3 million or $0.03 per share; adjusted net loss of $5.9 million or $0.06 per share. Cash Equivalents and Equity Securities: $338.2 million as of June 30, 2025. Total Indebtedness: $104.4 million, with $58 million at Benchmark and $46.4 million at Deflecto. Warning! GuruFocus has detected 5 Warning Signs with ACTG. Release Date: August 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Acacia Research Corp (NASDAQ:ACTG) announced a partnership with Unchained Capital to offer secured lending solutions backed by Bitcoin, which could provide attractive risk-adjusted returns. The company generated total revenue of $51.2 million in the second quarter, with significant contributions from its energy and manufacturing operations. Acacia's hedging strategy for its energy operations is performing well, with over 70% of oil and gas production hedged through 2027, mitigating downside pricing risks. The company has made progress in optimizing operations at its Deflecto business, improving accountability, reducing overhead costs, and streamlining product offerings. Acacia's industrial segment, Printronix, is performing ahead of plan, with a successful transition to higher-margin consumable products and improved free cash flow. Negative Points Acacia reported a GAAP operating loss of $12.4 million for the second quarter, primarily due to a decline in revenue from its intellectual property business. The company experienced demand headwinds in its Deflecto business due to global trade uncertainties and tariffs, impacting its transportation safety and consumer products segments. The Class A truck market remains weak, with new orders at their lowest level since 2010, affecting Deflecto's transportation safety business. Acacia's intellectual property operations saw a significant decrease in revenue compared to the previous year, highlighting the episodic nature of this business. The macroeconomic environment, including potential recessions and declining oil and natural gas prices, poses risks to Acacia's energy operations despite hedging strategies. Q & A Highlights Q: Can you share the expected interest rates for the Bitcoin commercial loans and how do you assess their risk compared to typical commercial loans? A: The loans are expected to yield returns in the low teens, exceeding 10% for Acacia. These loans are collateralized by Bitcoin at a 50% loan-to-value ratio, stored in a secure cold storage vault. The risk is considered minimal due to the ability to manage the loan-to-value ratio and liquidate Bitcoin if necessary. Additionally, Acacia plans to hedge against Bitcoin exposure to mitigate risks. Q: Regarding Deflecto, is there any indication of recovery in the Class A truck market, or do you expect the downturn to continue? A: The tariffs have significantly impacted the market, altering buying patterns. While uncertainty persists, there is optimism that purchasing cycles may return once clarity is achieved. Acacia is implementing strategies like price increases and cost optimization to navigate the situation. The aging fleet suggests potential for market recovery once uncertainties are resolved. Q: What are Acacia's plans for the Cherokee asset over the next one to two years? A: Acacia is evaluating partnerships with third-party capital to pursue a drilling strategy in Cherokee. The company is in the middle stages of planning and aims to capitalize on the acreage acquired with the PDPs from the revolution. Specific details on the number of wells are not disclosed at this time. Q: How does Acacia ensure the security of Bitcoin collateral in cold storage, and what measures are in place to protect against regulatory changes? A: The Bitcoin collateral is held in a cold storage unit managed by Unchained, with a multi-signature system requiring two of three key holders to access the Bitcoin. This setup provides high security. The UCC lien is embedded in the Bitcoin's coding, ensuring clear ownership. Acacia is confident in the security and regulatory compliance of this arrangement. Q: With 70% of the benchmark resolution business hedged, is there a risk of going cash flow negative if oil and natural gas prices decline? A: While nothing is impossible, it is highly improbable for the business to go cash flow negative due to the hedges in place. There is some unhedged exposure, but the hedges have performed as expected, providing confidence in maintaining positive cash flow despite price volatility. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Acacia Research Corp (ACTG) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $51.2 million for Q2 2025. Adjusted EBITDA: $1.9 million for the company. Free Cash Flow: $47.9 million, reflecting cash collection from a settlement in the IP business. Diluted EPS Loss: $0.03 per share; adjusted loss of $0.06 per share. Book Value Per Share: $5.99; excluding non-controlling interests, $5.58. Energy Operations Revenue: $15.3 million, up from $14.2 million year-over-year. Manufacturing Operations Revenue: $29 million for the quarter. Industrial Operations Revenue: $6.6 million, compared to $6.3 million last year. Intellectual Property Revenue: $0.3 million, down from $5.3 million last year. G&A Expenses: $15.5 million, up from $10.1 million last year, with $5.1 million increase due to Deflecto. Operating Loss: $12.4 million, compared to $4.8 million last year. Energy Operations Adjusted EBITDA: $7 million. Manufacturing Operations Adjusted EBITDA: $1.3 million. Industrial Operations Adjusted EBITDA: $0.6 million. Net Loss: $3.3 million or $0.03 per share; adjusted net loss of $5.9 million or $0.06 per share. Cash Equivalents and Equity Securities: $338.2 million as of June 30, 2025. Total Indebtedness: $104.4 million, with $58 million at Benchmark and $46.4 million at Deflecto. Warning! GuruFocus has detected 5 Warning Signs with ACTG. Release Date: August 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Acacia Research Corp (NASDAQ:ACTG) announced a partnership with Unchained Capital to offer secured lending solutions backed by Bitcoin, which could provide attractive risk-adjusted returns. The company generated total revenue of $51.2 million in the second quarter, with significant contributions from its energy and manufacturing operations. Acacia's hedging strategy for its energy operations is performing well, with over 70% of oil and gas production hedged through 2027, mitigating downside pricing risks. The company has made progress in optimizing operations at its Deflecto business, improving accountability, reducing overhead costs, and streamlining product offerings. Acacia's industrial segment, Printronix, is performing ahead of plan, with a successful transition to higher-margin consumable products and improved free cash flow. Negative Points Acacia reported a GAAP operating loss of $12.4 million for the second quarter, primarily due to a decline in revenue from its intellectual property business. The company experienced demand headwinds in its Deflecto business due to global trade uncertainties and tariffs, impacting its transportation safety and consumer products segments. The Class A truck market remains weak, with new orders at their lowest level since 2010, affecting Deflecto's transportation safety business. Acacia's intellectual property operations saw a significant decrease in revenue compared to the previous year, highlighting the episodic nature of this business. The macroeconomic environment, including potential recessions and declining oil and natural gas prices, poses risks to Acacia's energy operations despite hedging strategies. Q & A Highlights Q: Can you share the expected interest rates for the Bitcoin commercial loans and how do you assess their risk compared to typical commercial loans? A: The loans are expected to yield returns in the low teens, exceeding 10% for Acacia. These loans are collateralized by Bitcoin at a 50% loan-to-value ratio, stored in a secure cold storage vault. The risk is considered minimal due to the ability to manage the loan-to-value ratio and liquidate Bitcoin if necessary. Additionally, Acacia plans to hedge against Bitcoin exposure to mitigate risks. Q: Regarding Deflecto, is there any indication of recovery in the Class A truck market, or do you expect the downturn to continue? A: The tariffs have significantly impacted the market, altering buying patterns. While uncertainty persists, there is optimism that purchasing cycles may return once clarity is achieved. Acacia is implementing strategies like price increases and cost optimization to navigate the situation. The aging fleet suggests potential for market recovery once uncertainties are resolved. Q: What are Acacia's plans for the Cherokee asset over the next one to two years? A: Acacia is evaluating partnerships with third-party capital to pursue a drilling strategy in Cherokee. The company is in the middle stages of planning and aims to capitalize on the acreage acquired with the PDPs from the revolution. Specific details on the number of wells are not disclosed at this time. Q: How does Acacia ensure the security of Bitcoin collateral in cold storage, and what measures are in place to protect against regulatory changes? A: The Bitcoin collateral is held in a cold storage unit managed by Unchained, with a multi-signature system requiring two of three key holders to access the Bitcoin. This setup provides high security. The UCC lien is embedded in the Bitcoin's coding, ensuring clear ownership. Acacia is confident in the security and regulatory compliance of this arrangement. Q: With 70% of the benchmark resolution business hedged, is there a risk of going cash flow negative if oil and natural gas prices decline? A: While nothing is impossible, it is highly improbable for the business to go cash flow negative due to the hedges in place. There is some unhedged exposure, but the hedges have performed as expected, providing confidence in maintaining positive cash flow despite price volatility. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Freshpet price target lowered to $70 from $80 at Truist
Truist lowered the firm's price target on Freshpet (FRPT) to $70 from $80 and keeps a Hold rating on the shares. The firm is updating its model following the company's Q2 results, the analyst tells investors in a research note. Truist also maintains that the company's valuation will remain depressed until growth returns to the overall pet category. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on FRPT: Disclaimer & DisclosureReport an Issue Freshpet price target lowered to $95 from $120 at Benchmark Cautious Hold Rating on Freshpet Amid Sales Shortfall and Competitive Pressures Freshpet Inc. Reports Strong Q2 2025 Performance Freshpet's Growth Potential and Profitability: Analyst Reiterates Buy Rating with Optimistic Outlook Freshpet Reports Strong Q2 2025 Financial Results Sign in to access your portfolio
