Analyst Upgrades: NIKE, Inc., Honeywell International Inc., and Pier 1 Imports, Inc.

Analysts upwardly revised their ratings on Nike Inc (NKE), Honeywell International Inc. (HON), and Pier 1 Imports Inc (PIR)

by Griffin Kruse

Published on Mar 20, 2015 at 9:19 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on athletic apparel maker Nike Inc (NYSE:NKE), diversified tech firm Honeywell International Inc. (NYSE:HON), and home furnishing specialist Pier 1 Imports Inc (NYSE:PIR). Here's a quick roundup of today's bullish brokerage notes on NKE, HON, and PIR.

  • The shares of NKE are pointed 5.4% higher in electronic trading -- and are headed for record-high, triple-digit territory -- after the firm released fiscal third-quarter earnings that topped the Street's estimates. In response, no fewer than 11 brokerage firms upwardly revised their price targets on Nike Inc. Drilling down, the most dramatic hikes came from J.P. Morgan Securities and Buckingham Research, with the former lifting its price target by $6 to $116 and the latter raising its price target by $16 to $122. Both firms reiterated the equivalent of "buy" ratings. On the charts, NKE has been a technical outperformer, with the shares up 24% year-over-year to close yesterday at $98.32. However, puts have been prominent in the options pits, as NKE's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.17 stands higher than 91% of all equivalent readings taken over the past year.

  • Goldman Sachs added HON to "America's conviction buy" list, sending the shares up 1.4% in electronic trading. Looking back, Honeywell International Inc. has been in recovery mode, with the shares up 24.3% from their Oct. 15 annual low of $82.89 to close yesterday at $103.02. However, sentiment has been bearish in the options pits, as HON's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.98 sits in the 96th percentile of its annual range. Likewise, the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.34 stands higher than 97% of all other readings from the past year, suggesting short-term traders have rarely been more put-biased.

  • PIR is over 5.1% higher in electronic trading, after Oppenheimer upgraded the equity to "outperform" from "market perform." The revision comes as Pier 1 Imports Inc is rebounding from its annual low of $11.38, touched in mid-February, with the shares up 11.2% so far in March. Calls have been popular in the options pits, as PIR's 50-day ISE/CBOE/PHLX call/put volume ratio of 5.50 ranks higher than 83% of all equivalent readings taken over the past 12 months. Elsewhere, the brokerage bunch is lukewarm at best on the security, as 11 out of 13 covering analysts rate the stock a tepid "hold" or worse.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Tiffany Stock Drops as Takeover Talks Dissipate
LVMH was to acquire Tiffany & Co in a billion-dollar deal
Coty Stock Glows Up with Possible Kardashian Cosmetics Line
The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty products
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.