Benzinga's Top Downgrades

Analysts at Citigroup downgraded Progressive Corp PGR from “buy” to “neutral.” PGR's shares closed at $21.37 on Friday. Progressive's trailing-twelve-month ROE is 14.48%. RW Baird downgraded Forward Air Corp FWRD from “outperform” to “neutral.” FWRD's shares closed at $35.03 on Friday. Forward Air's trailing-twelve-month profit margin is 8.97%. JMP Securities downgraded Achillion Pharmaceuticals Inc ACHN from “outperform” to “market perform.” ACHN's shares closed at $8.28 on Friday. Achillion Pharmaceuticals' PEG ratio is -7.61. Analysts at Davenport downgraded Matthews International Corporation MATW from “buy” to “neutral.” MATW's shares closed at $30.56 on Friday. Matthews International's trailing-twelve-month profit margin is 7.56%.