Top brokers name 3 ASX shares to sell today

It has been another busy week of results releases, which has led to a large number of broker notes hitting the wires.

Three shares that are out of favour this week are listed below. Here’s why brokers have put sell ratings on their shares:

Ainsworth Game Technology Limited (ASX: AGI)

According to a note out of the Macquarie equities desk, its analysts have held firm with their underperform rating and 75 cents price target on this gaming technology company’s shares following the release of its half year results. For the six months to December 31, Ainsworth Game Technology reported a 47% decline in normalised net profit after tax. Macquarie appeared to be disappointed with its performance and has adjusted its forecasts to accordingly. Ainsworth Game Technology shares are currently trading at 82 cents.


A note out of Deutsche Bank reveals that its analysts have downgraded this data centre operator’s shares to a sell rating with a $5.50 price target following the release of its half year results. According to the note, the broker notes that NEXTDC’s sales velocity has slowed due to the complexity of hyperscale contracts. It also appears concerned by its lower returns on invested capital and high levels of debt. The company’s shares are currently changing hands at $6.24.

SEEK Limited (ASX: SEK)

Analysts at Citi have retained their sell rating but lifted the price target on this job listings company’s shares to $16.05 following the release of its half year results. According to the note, the broker believes that the company’s first half result has shown that a slowdown has started. Furthermore, it pointed to management’s outlook as a sign that things are likely to deteriorate further and weigh heavily on its growth. Especially if job listings fall by the same level that they did in the last downturn. At that point listings reduced by approximately 26% during the space of just two years according to the broker. The SEEK share price is currently trading at $18.62.

Those may be the shares rated as sells, but these are the ones to buy according to one analyst.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and SEEK Limited. The Motley Fool Australia has recommended SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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