Analysts adjusted their ratings on Vince Holding Corp (VNCE), Infoblox Inc (BLOX), and SkyWest, Inc. (SKYW)
Analysts chimed in on retailer Vince Holding Corp (NYSE:VNCE), network controller Infoblox Inc (NYSE:BLOX), and airline issue SkyWest, Inc. (NASDAQ:SKYW). Here's a quick roundup of today's brokerage notes on VNCE, BLOX, and SKYW.
- VNCE is 38% lower at $5.76, and touched a new all-time low of $5.65, after the firm reported disappointing second-quarter earnings and downwardly revised its full-year forecast. The disappointment earned Vince Holding Corp a trio of price-target cuts, with Baird cutting its target to $7 from $13, Barclays slashing its target to $5 from $14, and B Riley slicing its target to $6.50 from $11. Today's plunge is a mere continuation of VNCE's longer-term downtrend, as the stock has surrendered 78% in 2015, and hit a record low on Aug. 24. Shares of the retail concern face stiff overhead resistance from their 10-week moving average. Nearly 15.5% of the equity's float is sold short, but today's plunge landed VNCE on the short-sale restricted (SSR) list.
- BLOX is 9.2% lower at $18.04, after issuing weak guidance and announcing it's asked CFO Remo Canessa to step down. As with VNCE, BLOX is on the SSR list, and was punished by analysts after the announcement. Needham cut its price target to $27 from $33, Deutsche Bank lowered its target to $30 from $32, and Citigroup cut BLOX to $28 from $32. Infoblox Inc is now nearly 11% lower year-to-date, and set to end the week south of its 80-week moving average for the first time since March.
- SKYW -- like a handful of other airlines -- is bucking the overall market trend today. The airline holding company is nearly 9% higher after receiving an upgrade to "outperform" from "market perform" at Cowen and Company. In addition, the brokerage firm upped its price target to $19 from $16 -- in territory not charted since the financial crisis. SkyWest, Inc. earned the upgrade because of a reliance on larger jets and a fleet reduction, which Cowen believes will offset attrition and drive growth. Today's rally could spook some short-term option bears. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.64 stands higher than 90% of all other readings from the past year, indicating near-term traders are more put-heavy than usual.
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