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. 


Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!


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.