Schaeffer's Trading Floor Blog

Analyst Update: Semtech Corporation, American Eagle Outfitters, and Clean Harbors Inc

Analysts adjusted their ratings on SMTC, AEO, and CLH

by 8/21/2014 2:17 PM
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Analysts are weighing in today on semiconductor concern Semtech Corporation (NASDAQ:SMTC), retailer American Eagle Outfitters (NYSE:AEO), and environmental services issue Clean Harbors Inc (NYSE:CLH). Here's a quick look at today's brokerage notes on SMTC, AEO, and CLH.

  • SMTC is up 5.8% at $25.39, thanks to a stronger-than-expected second-quarter earnings showing. As a result, RBC Capital Markets hiked its price target on SMTC to $32 from $31, and offered up an "outperform" rating. In light of the post-earnings pop, Semtech Corporation is now in the black year-to-date, but upside could be limited if the shares run into a familiar wall in the $26.50-$27.50 region, which has acted as a roadblock in 2014. In the options pits, meanwhile, speculators are likely cheering SMTC's earnings reaction. The equity's Schaeffer's put/call open interest ratio (SOIR) of 0.41 stands higher than just 18% of all other readings from the past year, suggesting short-term option players are more call-biased than usual right now.

  • The earnings party has continued for AEO, which was last seen 2.7% higher at $13.33. A handful of brokerage firms have upwardly revised their opinions on the stock, including Janney and SunTrust Robinson, which both upgraded AEO to "buy." Meanwhile, Mizuho and BMO both upped their price targets to $12, while RBC lifted its price target to $15 from $13, and offered an "outperform" endorsement. American Eagle Outfitters short sellers are likely feeling the heat, as short interest accounts for more than 19% of the security's total available float.

  • CLH is flirting with a 2.4% lead at $61.44, after Stifel resumed coverage with a "buy" rating. Bullish brokerage notes are relatively rare for CLH, as two-thirds of covering analysts maintain tepid "hold" suggestions. Sentiment isn't much better elsewhere on the Street, as short interest represents nearly eight sessions' worth of pent-up buying demand, at the stock's average rate of trading. Meanwhile, Clean Harbors Inc sports a SOIR of 3.37 -- higher than 88% of all other readings from the past year, pointing to a bigger-than-usual put skew among near-term traders.

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