Analyst Downgrades: Nordstrom, Inc., Sotheby's, and Yamana Gold Inc.

Analysts downwardly revised their ratings on Nordstrom, Inc. (JWN), Sotheby's (BID), and Yamana Gold Inc. (USA) (AUY)

Feb 17, 2015 at 9:19 AM
facebook X logo linkedin


Analysts are weighing in today on retailer Nordstrom, Inc. (NYSE:JWN), auction house Sotheby's (NYSE:BID), and gold producer Yamana Gold Inc. (USA) (NYSE:AUY). Here's a quick roundup of today's bearish brokerage notes on JWN, BID, and AUY.

  • After its board of directors approved a dividend boost Friday evening, JWN received a mixed bag of brokerage notes. Barclays, for example, cut its outlook on the shares to "underweight" from "equal weight," while Topeka upped its price target by $3 to $88, and reiterated its "buy" rating. On the charts, JWN has done well over the past 52 weeks, boasting a 35.8% gain. Should the shares turn in another well-received earnings report this Thursday night -- JWN has averaged a single-session post-earnings gain of 2.6% over the past four quarters -- the door is wide open for more analysts to follow in the footsteps of Topeka. Currently, 65% of analysts covering Nordstrom, Inc. maintain a "hold" or "sell" suggestion, while the average 12-month price target of $78.32 stands at a discount to Friday's close at $79.41.

  • Cowen and Company cut its rating on BID to "market perform" from "outperform," marking a change of pace to the optimism expressed by most analysts following the shares. Prior to today's downgrade, all four brokerage firms tracking BID deemed it worthy of a "strong buy" recommendation. Technically speaking, Sotheby's has been charting a path higher since hitting an annual low of $34.74 in early October, up 29.2% to trade at $44.89. In spite of this, put buying has been popular in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for instance, BID's 50-day put/call volume ratio of 2.28 ranks in the 85th percentile of its annual range. In other words, puts have been bought to open over calls at a faster-than-usual clip.

  • It's been a tough year for AUY, which has shed nearly 61% of its value over the past 12 months. Against this backdrop, Barclays lowered its price target on the shares to $6 from $7, while Dundee reduced its target price to C$4.25 from C$4.50. Should the shares extend their downward trajectory, there is plenty of room for an unwinding of optimism both in and out of the options arena. The stock's 50-day ISE/CBOE/PHLX call/put volume ratio of 11.51 ranks just 4 percentage points from a 52-week peak, meaning calls have been bought to open over puts at a near-annual-high clip in recent months. Elsewhere, eight out of 13 covering analysts maintain a "buy" or better rating on Yamana Gold Inc. (NYSE:AUY), while the consensus 12-month price target of $7.24 represents expected upside of 75.3% to last Friday's close at $4.13.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI