Apache stock is shrugging off a price-target cut
Analysts are weighing in on tech stock Hewlett Packard Enterprise Co (NYSE:HPE), online review concern Yelp Inc (NYSE:YELP), and oil-and-gas issue Apache Corporation(NYSE:APA). Here's a quick roundup of today's bearish brokerage notes on shares of HPE, YELP, and APA.
HPE Stock Slides After Earnings
Hewlett Packard stock is down 4% at $18.04, as traders pan a deep decline in the company's server business revenue. In response, Susquehanna and Barclays cut their price targets to $17, though Wells Fargo bumped its price target up to $18. The shares are now on pace for their first close below their 50-day moving average since late March, and that should be good news for options traders. HPE stock has a 10-day put/call volume ratio of 3.98 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 87th annual percentile.
YELP Stock Gets Hit with Price-Target Cut
SunTrust Robinson cut its price target on Yelp stock to $35 from $46. However, the new target still represents a premium to YELP's current perch of $27.83, as the stock suffered a steep bear gap after a forecast cut in mid-May. Still, the shares are holding above their year-over-year breakeven level. In the meantime, short-term options traders unusually put-skewed. This is based on YELP stock's Schaeffer's put/call open interest ratio (SOIR) of 1.39, which is higher than 95% of all other readings from the past year.
APA Stock Gains Despite Bear Note
Apache Corporation stock is up 0.4% at $46.94, despite a price-target cut to $60 from $64 at J.P. Morgan Securities. Of course, the shares have still underperformed long term -- like most of the
energy sector -- losing more than a quarter of their value year-to-date. Not surprisingly, most analysts are bearish on APA stock. By the numbers, 16 of 19 covering brokerage firms rate the shares a "hold" or worse.