Analyst Downgrades: Crocs, Inc., Tiffany & Co., and Twitter Inc

Analysts downwardly revised their ratings on CROX, TIF, and TWTR

by Alex Eppstein

Published on Oct 28, 2014 at 9:33 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on footwear seller Crocs, Inc. (NASDAQ:CROX), upscale jeweler Tiffany & Co. (NYSE:TIF), and microblogging site Twitter Inc (NYSE:TWTR). Here's a quick roundup of today's bearish brokerage notes on CROX, TIF, and TWTR.

  • Following mixed third-quarter results, CROX was met with a bevy of bearish brokerage notes. Specifically, Baird, Buckingham, Goldman Sachs, and Piper Jaffray each lowered their respective price targets, with the former three reaffirming their "neutral" opinions, and the latter underscoring its "overweight" assessment. It's been a rough year for Crocs, Inc., which is down about 28% in 2014 to trade at $11.46, after plunging more than 5% this morning, and touching a four-year low of $11.42. Not surprisingly, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been scooping up long puts (relative to calls) at a faster-than-usual rate in recent weeks. CROX's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.26 stands above roughly two-thirds of all readings taken in the last year.

  • Goldman Sachs trimmed its price target on TIF to $114 from $115, while reiterating its "buy" rating. On the technical front, the shares haven't performed well this year, adding less than 2% to trade at $94.43. In fact, since hitting a record high of $105.66 in late August, the equity has fallen 10.6%. Accordingly, option bears have zeroed in on Tiffany & Co., which sports a 10-day ISE/CBOE/PHLX put/call volume ratio of 7.64 -- just 4 percentage points from an annual high.

  • Finally, TWTR got hit with at least 11 price-target cuts, as well as three ratings reductions, following the company's third-quarter earnings report. While the firm topped the Street's revenue estimates, there are lingering concerns over its user growth and fourth-quarter guidance. As such, Twitter Inc has dropped nearly 13% out of the gate to trade at $42.29. If this downward momentum continues, TWTR could get hit with additional bearish brokerage notes. Currently, 15 out of 28 covering analysts have doled out "buy" or better opinions on the stock.

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