Analyst Update: Groupon Inc, Ascena Retail Group Inc, and Seagate Technology PLC

Analysts adjusted their ratings on Groupon Inc (GRPN), Ascena Retail Group Inc (ASNA), and Seagate Technology PLC (STX)

by Mark Fightmaster

Published on Jul 13, 2015 at 11:10 AM

Analysts are weighing in today on coupon provider Groupon Inc (NASDAQ:GRPN), retailer Ascena Retail Group Inc (NASDAQ:ASNA), and electronic data storage provider Seagate Technology (NASDAQ:STX). Here's a quick look at today's brokerage notes on GRPN, ASNA, and STX.

  • Last week, Evercore ISE cut its price target on GRPN, a move mirrored by brokerage Macquarie this morning. The brokerage sliced its price target on Groupon Inc to $7 from $7.75. However, the analysts also issued an upgrade to "outperform" from "neutral," sending GRPN up 5.2% to $5.09. The stock is now on pace to end atop its 10-day moving average for the first time since mid-April. From a longer-term perspective, GRPN touched a two-year low of $4.74 just last week. As such, the security's 14-day Relative Strength Index (RSI) sits at 22 -- in oversold territory, suggesting a short-term bounce may have been in the cards. 
  • ASNA gapped lower this morning after cutting its full-year earnings guidance, and is now down 14.1% at $14.05. In addition, the retailer's price target was cut to $18 from $20 at RBC.  We could see some bullish sentiment unwind in the option pits, as Ascena Retail Group Inc's Schaeffer's put/call open interest ratio (SOIR) of 0.13 is lower than 96% of the readings taken in the past 52 weeks. Brokerage houses are also optimistic toward ASNA, as five of the seven following the fashionista rate it a "strong buy." If any of this crew follows RBC's lead, we could see the shares fall further.

  • Our last news morsel comes from Seagate Technology PLC. This morning, the company announced that it expects fiscal fourth-quarter earnings to come in short of expectations, due to lower-than-expected demand. As such, FBN Securities cut its price target on STX to $50 from $60, and J.P. Morgan Securities slashed its target to $45 from $54. This combination of news has not helped put an end to STX's recent slump. The shares are down 1.9% at $45.09, and earlier touched an annual low of $44.46.

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