KeyBanc
Upgrade grade
B
Downgrade grade
B
KeyBanc Capital Markets was founded in 1998 as the investment banking and capital markets division of KeyCorp, one of the largest bank holding companies in the United States. The firm has grown into a mid-sized but respected player in institutional equity research, with approximately 3,235 analyst rating calls on US equities reflecting a broad investment mandate across multiple sectors. KeyBanc is particularly well-regarded for their coverage of financials, technology, healthcare, and consumer discretionary sectors, where their analysts have built strong track records of original insights and sector expertise. The firm is known for maintaining a culture of independent fundamental research with particular strength in regional banking analysis, leveraging KeyCorp's deep banking relationships to provide proprietary perspectives that institutional investors value.
Upgrades
387
77.26% win rate
· avg +2.07% D1
Downgrades
410
76.59% win rate
· avg -2.76% D1
Avg Gap — Upgrades
+1.72%
open vs prev close
Avg Gap — Downgrades
-2.44%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Industrials | 86.73% (113) | +2.51% | 77.87% (122) | -2.87% |
| Consumer Cyclical | 79.41% (68) | +2.55% | 77.65% (85) | -2.81% |
| Real Estate | 66.18% (68) | +0.33% | 70.18% (57) | -1.32% |
| Technology | 67.50% (40) | +1.93% | 83.33% (36) | -5.16% |
| Basic Materials | 77.78% (27) | +2.92% | 90.91% (33) | -2.43% |
| Healthcare | 72.00% (25) | +0.95% | 78.26% (23) | -3.18% |
| Utilities | 73.33% (15) | +2.38% | 53.85% (13) | -0.77% |
| Communication Services | 72.73% (11) | +1.56% | 84.62% (13) | -4.12% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2021 | 56.8% | 37 | 60.0% | 25 |
| 2020 | 74.4% | 78 | 68.3% | 63 |
| 2019 | 79.5% | 44 | 77.2% | 57 |
| 2018 | 73.5% | 34 | 75.0% | 40 |
| 2017 | 75.5% | 49 | 88.1% | 42 |
| 2016 | 83.3% | 30 | 74.5% | 55 |
| 2015 | 92.9% | 28 | 84.8% | 33 |
| 2014 | 89.7% | 29 | 83.9% | 31 |
| 2013 | 83.7% | 43 | 67.5% | 40 |
| 2012 | 66.7% | 15 | 95.7% | 23 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Jan 26, 2026 | META | Meta Platforms, Inc. | Communication Services | Maintains | Overweight → Overweight | — | +1.0% | +2.1% |
| Jul 31, 2025 | META | Meta Platforms, Inc. | Communication Services | Maintains | Overweight → Overweight | — | +11.5% | +11.3% |
| May 1, 2025 | META | Meta Platforms, Inc. | Communication Services | Maintains | Overweight → Overweight | — | +7.8% | +4.2% |
| Jan 10, 2025 | META | Meta Platforms, Inc. | Communication Services | Maintains | Overweight → Overweight | — | -0.1% | +0.8% |
| Jan 18, 2022 | GPK | Graphic Packaging Holding Company | Consumer Cyclical | Downgrade | Sector Weight → Underweight | — | -3.7% | -3.0% |
| Jan 18, 2022 | SNDR | Schneider National, Inc. | Industrials | Maintains | Overweight → Overweight | — | -0.6% | +2.0% |
| Apr 1, 2021 | AME | AMETEK, Inc. | Industrials | Maintains | Overweight → Overweight | — | +0.5% | +0.7% |
| Apr 1, 2021 | OSK | Oshkosh Corporation | Industrials | Maintains | Overweight → Overweight | — | +0.8% | +0.7% |
| Mar 31, 2021 | PHR | Phreesia, Inc. | Healthcare | Maintains | Overweight → Overweight | — | -3.0% | -0.1% |
| Mar 31, 2021 | DHI | D.R. Horton, Inc. | Consumer Cyclical | Maintains | Overweight → Overweight | — | +0.8% | -0.1% |
| Mar 30, 2021 | EXR | Extra Space Storage Inc. | Real Estate | Maintains | Overweight → Overweight | — | +0.1% | -0.2% |
| Mar 30, 2021 | TXN | Texas Instruments Incorporated | Technology | Upgrade | Sector Weight → Overweight | — | +1.3% | -0.1% |
| Mar 29, 2021 | GT | The Goodyear Tire & Rubber Company | Consumer Cyclical | Maintains | Overweight → Overweight | — | +3.0% | -0.8% |
| Mar 29, 2021 | LEA | Lear Corporation | Consumer Cyclical | Maintains | Overweight → Overweight | — | -0.0% | -3.0% |
| Mar 26, 2021 | OXM | Oxford Industries, Inc. | Consumer Cyclical | Maintains | Overweight → Overweight | — | +5.4% | +7.0% |
| Mar 26, 2021 | HUBG | Hub Group, Inc. | Industrials | Maintains | Overweight → Overweight | — | +1.6% | +4.6% |
| Mar 26, 2021 | SNDR | Schneider National, Inc. | Industrials | Maintains | Overweight → Overweight | — | +2.0% | +3.6% |
| Mar 26, 2021 | CE | Celanese Corporation | Basic Materials | Maintains | Overweight → Overweight | — | +2.5% | +2.1% |
| Mar 26, 2021 | DRI | Darden Restaurants, Inc. | Consumer Cyclical | Maintains | Overweight → Overweight | — | +0.8% | +2.8% |
| Mar 26, 2021 | SBAC | SBA Communications Corporation | Real Estate | Upgrade | Sector Weight → Overweight | — | +0.9% | +3.7% |
| Mar 26, 2021 | JBHT | J.B. Hunt Transport Services, Inc. | Industrials | Maintains | Overweight → Overweight | — | +0.6% | +3.4% |
| Mar 26, 2021 | CCI | Crown Castle Inc. | Real Estate | Upgrade | Sector Weight → Overweight | — | +1.1% | +3.5% |
| Mar 26, 2021 | AMT | American Tower Corporation | Real Estate | Upgrade | Sector Weight → Overweight | — | +1.6% | +5.1% |
| Mar 25, 2021 | HRI | Herc Holdings Inc. | Industrials | Maintains | Overweight → Overweight | — | -1.2% | +3.8% |
| Mar 25, 2021 | URI | United Rentals, Inc. | Industrials | Maintains | Overweight → Overweight | — | -0.4% | +2.9% |