Analysts downwardly revised their ratings on TWTR, SONC, and SKX
Analysts are weighing in on microblogging platform Twitter Inc (NYSE:TWTR), fast-food stock Sonic, and shoe maker Skechers. Here's a quick roundup of today's bearish brokerage notes on shares of TWTR, as well as SONC stock and SKX stock.
Another Bear Note for Twitter Stock
TWTR is down 1.3% this morning at $14.75, after Barclays initiated coverage with an "underweight" assessment. This is just more of the same for Twitter stock, which has now lost roughly a quarter of its value since its December high. It's not surprising, then, that short interest continues to rise on the shares. In fact, short interest on TWTR stock is up nearly 50% over the past two months.
SONC Stock Overcomes Revenue Miss, Price-Target Cuts
Despite missing Wall Street's fiscal second-quarter revenue estimates, SONC stock is up 10.4% today at $26.41. What's more, the shares are shrugging off price-target cuts to $23 and $24 at Cowen and Barclays, respectively. Of course, Sonic Corporation is still down 23.6% year-over-year, and that's just fine with options traders. By the numbers, SONC stock has a 10-day put/call volume ratio of 3.54 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which outranks 86% of the past year's readings.
SKX Stock Stumbles After Downgrade
Susquehanna this morning downgraded SKX stock to "negative" from "positive," and cut its price target to $25 from $30. The equity has so far fallen 5.5% to trade at $28.31, but it still enjoys a 15% year-to-date gain. As it stands now, analysts are split on Skechers USA Inc. Specifically, five brokerage firms rate SKX shares a "strong buy," while five others rate them a "hold."
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