Schaeffer's Trading Floor Blog

Analyst Downgrades: B/E Aerospace Inc, The Boeing Company, and 3-D Systems Corporation

Analysts downwardly revised their ratings on BEAV, BA, and DDD

by 6/11/2014 9:26 AM
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Analysts are weighing in today on aircraft specialists B/E Aerospace Inc (NASDAQ:BEAV) and The Boeing Company (NYSE:BA), plus 3D printing concern 3-D Systems Corporation (NYSE:DDD). Here's a quick roundup of today's bearish brokerage notes.

  • BEAV plunged 4.8% yesterday to close at $94.15, after the company announced plans to split into two publicly traded companies. Subsequently, Jefferies downgraded the equity to "hold" from "buy," and cut its price target to $97 from $107 this morning. Canaccord Genuity also lowered its rating to "hold" from "buy," and shaved its price target by $2 to $98. In the options pits, meanwhile, B/E Aerospace Inc currently sports a Schaeffer's put/call open interest ratio (SOIR) of 0.27, which ranks in the bottom 6% of its 12-month range. In other words, call open interest (compared to put open interest) is at a near-annual-high level among options expiring within the next three months.

  • Although BA has gained more than 8% over the last three months to trade at $137.25, RBC downgraded the equity to "sector perform" from "outperform" this morning. On the options front, The Boeing Company's short-term puts appear to have an edge over their call counterparts. The stock's SOIR of 1.28 ranks higher than 87% of comparable readings taken in the last year, indicating short-term speculators are more put-biased than usual toward BA right now.

  • DDD -- which is down 47% year-to-date to trade at $49.28 -- received a price-target cut to $64 from $78 at RBC, and a downgrade to "hold" from "buy" at Gabelli, earlier today. Short interest on 3-D Systems Corporation, meanwhile, climbed 10.8% during the latest reporting period, and now accounts for about one-third of the stock's available float. It would take roughly two weeks to cover these bearish bets, at the shares' average pace of trading.

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