1-800-Flowers.com downgraded to Underperform from Neutral at DA Davidson

DA Davidson downgraded 1-800-Flowers.com to Underperform from Neutral with an $8 price target. 1-800-Flowers’ business is a late-cycle discretionary consumer business that has been posting year-over-year sales declines since the pandemic ended and sales, which have been down year-over-year in every quarter since fiscal Q3 of FY22, have worsened in the last five quarters, the analyst tells investors. The firm thinks the consensus Q4 sales forecast could be too high, resulting in a miss, and also thinks the company could issue FY25 guidance below the Street, the analyst tells investors.