Analyst Downgrades: 3D Systems, AT&T, Walt Disney

Analysts downwardly revised their ratings on DDD, T, and DIS

Dec 10, 2014 at 9:50 AM
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Analysts are weighing in today on 3-D printer maker 3D Systems Corporation (NYSE:DDD), as well as blue chips AT&T Inc. (NYSE:T) and Walt Disney Co (NYSE:DIS). Here's a quick roundup of today's bearish brokerage notes on DDD, T, and DIS.

  • DDD is down 0.9% at $31.85, after Longbow initiated coverage with an "underperform" rating. Of course, the brokerage firm isn't the first to wax pessimistic on 3D Systems Corporation; 11 out of 17 analysts consider DDD a "hold" or worse. In the same vein, short interest accounts for more than 35% of the equity's total available float, and would take more than 11 sessions to repurchase, at DDD's average daily trading volume. The skepticism isn't too surprising, though, considering DDD has surrendered roughly two-thirds of its value in 2014.

  • After gapping lower along with sector peer Verizon Communications Inc. (NYSE:VZ) yesterday, fellow telecom concern T is extending its retreat in the wake of several negative analyst notes. Among them, Citigroup shaved its target by $1 to $33 (and reiterated a "neutral" opinion), and Morgan Stanley reduced its target to $34 (and reaffirmed an "equal weight" rating). The shares of T were last seen 1.2% lower at $32.52, bringing their year-to-date loss to 7.5% -- possibly to the dismay of recent option buyers. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 4.15 sits just 3 percentage points from an annual high, hinting at a healthier-than-usual appetite for long calls over puts during the past two weeks. It's worth noting, though, that short interest represents nearly 14 sessions' worth of pent-up buying demand, at T's average pace of trading, suggesting the calls may have been purchased by shorts looking for a hedge.

  • Finally, DIS is down 0.2% at $92.71, after Topeka Capital downgraded the media giant to "hold" from "buy," citing long-term concerns about the impact of a strengthening dollar on park attendance in Orlando. From a longer-term standpoint, the blue chip remains 21.4% higher year-to-date, tagging an all-time high of $94.50 on Monday. Option buyers are rolling the dice on more upside for DIS, as the stock's 10-day ISE/CBOE/PHLX call/put volume ratio of 2.65 stands higher than 96% of all other readings from the past year.


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