Why AP Eagers, Flight Centre, Kogan, & St Barbara are dropping lower

The Flight Centre Travel Group Ltd (ASX:FLT) share price and the St Barbara Ltd (ASX:SBM) share price are two of four dropping lower on Wednesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 index is on course to record a solid gain. At the time of writing the benchmark index is up 1% to 7,134.9 points.

Four shares that have failed to follow the market higher today are listed below. Here's why they are dropping lower:

The AP Eagers Ltd (ASX: APE) share price has fallen 5% to $9.65. Investors have been selling the auto retailer's shares after it was the subject of a broker note out of Morgans. According to the note, its analysts have downgraded AP Eagers' shares to a hold rating with an $11.96 price target. It notes that new car sales are weak.

The Flight Centre Travel Group Ltd (ASX: FLT) share price is down 2% to $40.95. The catalyst for this appears to have been a broker note out of Credit Suisse. According to the note, its analysts have downgraded Flight Centre's shares to a neutral rating and cut the price target on them to $44.83. The broker appears concerned that tough trading conditions could make it hard for Flight Centre to achieve its guidance.

The Kogan.com Ltd (ASX: KGN) share price is trading 2% lower at $5.62. The ecommerce company's shares continue to tumble following the release of its first half update on Monday. In the first half Kogan delivered first half gross sales and gross profit growth of 16% and 9%, respectively. Whilst this looks strong, it is actually a sharp slowdown from the first quarter.

The St Barbara Ltd (ASX: SBM) share price has fallen 4.5% to $2.87. Investors have been selling the gold miner's shares after it downgraded its guidance for the Gwalia operation once again. Gwalia production is now forecast to be between 170,000 and 180,000 ounces. This compares to its previous guidance of 175,000 to 190,000 ounces. St Barbara also lifted its cost guidance by 5% to 6%.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited. The Motley Fool Australia has recommended Kogan.com ltd. 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.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »