Schaeffer's Trading Floor Blog

Analyst Downgrades: Angie's List, Agilent Technologies, and Transocean

Analysts downwardly revised their ratings on ANGI, A, and RIG

by 2/15/2013 9:13 AM
Stocks quoted in this article:

Analysts are weighing in today on business referral website Angie's List Inc (NASDAQ:ANGI - 16.86), tech concern Agilent Technologies Inc. (NYSE:A - 44.58), and offshore drilling firm Transocean LTD (NYSE:RIG - 59.30). Here's a quick roundup of today's bearish brokerage notes.

  • ANGI was downgraded to "market perform" from "outperform" at Barrington Research this morning, despite reporting fourth-quarter earnings on Wednesday that bested analysts' bottom-line projections. The security has advanced by close to 41% so far this year -- and outpaced the broader S&P 500 Index (SPX) by more than 45 percentage points during the past three months -- yet there is still plenty of bearish speculation surrounding ANGI. Short interest accounts for almost 15% of the equity's available float. It would take 14 days to cover these shorted shares, at the stock's average daily trading volume.

  • Down about 3.5% in pre-market action, A was slapped with a price-target cut to $45 from $48 at Barclays today, after revealing weaker-than-expected quarterly earnings post-close yesterday. Still, the stock has trekked about 9% higher in 2013, which could be attracting near-term bulls. The security's Schaeffer's put/call open interest ratio (SOIR) stands at 0.49, with calls more than doubling puts among the front three-months' series of options. This ratio ranks in the 24th percentile of its annual range, reflecting a stronger-than-usual preference for short-term calls over puts lately.

  • Finally, RIG was lowered to "sell" from "hold" at Deutsche Bank ahead of the opening bell -- a move that could chip away at the equity's year-to-date gain of almost 33%. Meanwhile, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio sits at 3.51, conveying calls bought to open have more than tripled puts during the last two weeks. This ratio registers in the 55th annual percentile, meaning speculators have been picking up calls over puts at a slightly accelerated clip.

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