Analyst Downgrades: Fuel Systems Solutions, NIKE, Pier 1

Analysts downwardly revised their ratings on Fuel Systems Solutions, Inc. (FSYS), Nike Inc (NKE), and Pier 1 Imports Inc (PIR)

by Alex Eppstein

Published on Feb 11, 2015 at 9:26 AM
Updated on Jul 2, 2020 at 1:13 PM

Analysts are weighing in today on alternative transportation issue Fuel Systems Solutions, Inc. (NASDAQ:FSYS), sports apparel designer Nike Inc (NYSE:NKE), and home decor retailer Pier 1 Imports Inc (NYSE:PIR). Here's a quick roundup of today's bearish brokerage notes on FSYS, NKE, and PIR.

  • Craig-Hallum downgraded FSYS to "hold" from "buy." The negative note isn't all too surprising, considering the stock has lost 8.5% year-over-year to trade at $11.35, and has been struggling to surmount the $11.50-$12 area since late 2014. Short sellers have shown an active interest in Fuel Systems Solutions, Inc., as well. Over 9% of the equity's float is sold short, and it would take more than 11 sessions to cover these bearish bets, at FSYS' typical daily trading levels.

  • Despite rallying more than 25% over the last year to settle at $92.75, NKE saw its price target cut to $106 from $115 at Buckingham -- though, the brokerage firm also reiterated its "buy" opinion. Since hitting a record high of $99.76 in late November, the shares have been trending lower, pressured by their 20-day moving average. Options traders see more downside ahead for Nike Inc. The stock's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 0.92 -- outranking 83% of similar readings from the past 12 months. Similarly, NKE's Schaeffer's put/call open interest ratio (SOIR) of 1.16 sits in the 86th percentile of its annual range.

  • After issuing lower-than-expected 2015 profit guidance and announcing the retirement of its chief financial officer, PIR was greeted with a number of bearish brokerage notes. Specifically, no fewer than six analysts slashed the stock's price target -- including Barclays' reduction to $11 from $14. Additionally, Oppenheimer cut its rating on the equity to "perform" from "outperform." As such, Pier 1 Imports Inc is sitting 32.4% lower ahead of the bell, which would erase its 10.2% year-to-date gain, as of Tuesday's close at $16.97. Taking a step back, most of the brokerage crowd is already in the bears' corner. Ten out of 13 covering analysts rate PIR a "hold" or worse, and its consensus 12-month price target of $17.23 represents a slim 1.5% premium to last night's close.

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