Analyst Downgrades: Seadrill Ltd, Southern Copper Corp, and Regis Corporation

Analysts downwardly revised their ratings on Seadrill Ltd (NYSE:SDRL), Southern Copper Corp (NYSaSCCO), and Regis Corporation (NYSE:RGS)

by Josh Selway

Published on Aug 31, 2015 at 9:42 AM

Analysts are weighing in on oil-and-gas issue Seadrill Ltd (NYSE:SDRL), copper producer Southern Copper Corp (NYSE:SCCO), and beauty salon operator Regis Corporation (NYSE:RGS). Here's a quick roundup of today's bearish brokerage notes on SDRL, SCCO, and RGS. 

  • SDRL is adding to its recent losses, after Global Hunter Securities lowered its price target by $1 to $9. The shares are down 6.5% today at $7.40, bringing their 12-month loss to 80%. In the meantime, bears have taken notice. Short interest on Seadrill Ltd increased 12.7% during the two most recent reporting periods, and now accounts for 10% of the stock's float. 

  • A downgrade to "neutral" from "overweight" from J.P. Morgan Securities has SCCO 3.6% lower this morning at $26.37. The brokerage firm also reduced its price target on the shares to $31.50 from $37. The majority of analysts on the Street share this tepid outlook on Southern Copper Corp; four of seven covering firms say the stock is just a "hold." The equity is now 6.5% lower in 2015, with its 40-day moving average providing fierce overhead pressure since late May. 

  • RGS is down 3.8% this morning to hit $11.26, and is fresh off a six-year low of $11.15. The shares are reacting to a downgrade to "sell" from "neutral" at Northcoast. Regis Corporation has underperformed the broader S&P 500 Index (SPX) by 26 percentage points during the past three months, and has shed more than one-third of its value year-to-date. Against this backdrop, RGS' 14-day Relative Strength Index (RSI) sits comfortably in oversold territory, at 21.20. 


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