AI
Friday, August 31, 2012 11:27:53 AM
Downgraded: FB ZUMZ NAV
Analysts are weighing in today on social networking website Facebook Inc (NASDAQ:FB - 19.09), specialty retailer Zumiez Inc. (NASDAQ:ZUMZ - 32.22), and vehicle manufacturer Navistar International Corp (NYSE:NAV - 21.47). Here's a quick roundup of today's bearish brokerage notes.
Bank of America-Merrill Lynch lowered its price target for FB to $23 from $35 this morning, citing upcoming lock-up expirations as the catalyst. In similar fashion, analysts at BMO slashed their price target to $15 from $25, and reiterated their "underperform" rating. Although the stock currently sits on a month-to-date decline of more than 12% -- and has lagged the broader S&P 500 Index (SPX) by close to 42 percentage points during the past two months -- traders are still showing an affinity for calls over puts. In fact, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio stands at 1.39, confirming that traders have bought to open 139 calls for every 100 puts during the last two weeks.
Down almost 11% in pre-market trading, ZUMZ was hit with a slew of price-target cuts after projecting weaker-than-expected current-quarter earnings. Specifically, Jefferies cut its price target to $33 from $37, while Janney, Wedbush, and Roth Capital also downwardly revised their price targets. Still, the stock boasts a year-over-year gain of around 79%, so it's no surprise that near-term calls more than double puts, as evidenced by the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.41. This ratio is docked in the 25th annual percentile, meaning traders have shown a healthier-than-usual appetite for calls over puts.
NAV -- which sits on a 52-week loss of roughly 48% -- saw its price target cut to $27 from $30 at J.P. Morgan ahead of the opening bell, after environmental regulators nearly doubled the company's non-compliance fines. In the options pits, puts bought to open have outpaced calls by more than six to one during the past couple of weeks, according to the stock's 10-day put/call volume ratio of 6.20 on the ISE/CBOE/PHLX. This ratio is just four percentage points shy of a yearly peak, indicating that speculators have rarely picked up puts over calls at a faster pace.
Analysts are weighing in today on social networking website Facebook Inc (NASDAQ:FB - 19.09), specialty retailer Zumiez Inc. (NASDAQ:ZUMZ - 32.22), and vehicle manufacturer Navistar International Corp (NYSE:NAV - 21.47). Here's a quick roundup of today's bearish brokerage notes.
Bank of America-Merrill Lynch lowered its price target for FB to $23 from $35 this morning, citing upcoming lock-up expirations as the catalyst. In similar fashion, analysts at BMO slashed their price target to $15 from $25, and reiterated their "underperform" rating. Although the stock currently sits on a month-to-date decline of more than 12% -- and has lagged the broader S&P 500 Index (SPX) by close to 42 percentage points during the past two months -- traders are still showing an affinity for calls over puts. In fact, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio stands at 1.39, confirming that traders have bought to open 139 calls for every 100 puts during the last two weeks.
Down almost 11% in pre-market trading, ZUMZ was hit with a slew of price-target cuts after projecting weaker-than-expected current-quarter earnings. Specifically, Jefferies cut its price target to $33 from $37, while Janney, Wedbush, and Roth Capital also downwardly revised their price targets. Still, the stock boasts a year-over-year gain of around 79%, so it's no surprise that near-term calls more than double puts, as evidenced by the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.41. This ratio is docked in the 25th annual percentile, meaning traders have shown a healthier-than-usual appetite for calls over puts.
NAV -- which sits on a 52-week loss of roughly 48% -- saw its price target cut to $27 from $30 at J.P. Morgan ahead of the opening bell, after environmental regulators nearly doubled the company's non-compliance fines. In the options pits, puts bought to open have outpaced calls by more than six to one during the past couple of weeks, according to the stock's 10-day put/call volume ratio of 6.20 on the ISE/CBOE/PHLX. This ratio is just four percentage points shy of a yearly peak, indicating that speculators have rarely picked up puts over calls at a faster pace.
My post is for my entertainment, do your own DD before pushing your
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