Analyst Update: Republic Airways Holdings Inc., Wix.Com Ltd, and Civeo Corporation

Analysts adjusted their ratings on Republic Airways Holdings Inc. (NASDAQ:RJET), Wix.Com Ltd (NASDAQ:WIX), and Civeo Corporation (Canada) (NYSE:CVEO)

by Josh Selway

Published on Sep 2, 2015 at 3:01 PM

Analysts chimed in on airline issue Republic Airways Holdings Inc. (NASDAQ:RJET), Internet services provider Wix.Com Ltd (NASDAQ:WIX), and workforce accommodations expert Civeo Corporation (Canada) (NYSE:CVEO). Here's a quick roundup of today's brokerage notes on RJET, WIX, and CVEO.

  • RJET has been on a rough ride today. The stock fell as low as $2.05 -- down almost 33% -- and was temporarily halted, but was last seen 2.3% lower at $2.96. The catalyst? Uncertainty surrounding negotiations with the pilots union have prompted bankruptcy fears. In fact, Cowen and Company said it sees an increased likelihood RJET will file for Chapter 11, downgrading the stock to "underperform" from "market perform" and obliterating its price target to $1 from $5. This is just more of the same from a stock that was off 79% in 2015 coming into today, due in part to a large bear gap in late July. Bears have certainly seized the opportunity. Short interest on Republic Airways Holdings Inc. surged almost 45% during the two most recent reporting periods. RJET today, though, has landed on the short-sale restricted list.

  • An upgrade to "buy" at Deutsche Bank has WIX 4.7% higher today to trade at $19.79. Like RJET, Wix.Com Ltd is trying to recover from a bear gap roughly a month ago, with the shares 5.8% lower year-to-date. Most analysts share Deutsche Bank's outlook, as the equity boasts seven "buy" or better ratings, one "hold," and zero "sells." What's more, WIX's average 12-month price target of $30.70 represents a 55% climb, and territory not seen since early March 2014. 

  • CVEO is getting a 7.5% lift from Sterne Agee CRT, with the brokerage firm raising its opinion to "buy" from "neutral," saying "the shares are worth at least $4 per share" and called liquidity worries "overblown." Civeo Corporation has still been a long-term disaster, losing more than 92% of its value in the past year to trade at $2. With the stock sitting in the low single digits, call buying has picked up recently, as close to 900 calls have been purchased in the past 20 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), compared to just three puts. 
For other stocks in analysts' crosshairs, read Analyst Upgrades: Hasbro, Inc., ARM Holdings plc, and H & R Block Inc and Analyst Downgrades: GoPro Inc, Ambarella Inc, and AeroVironment, Inc.

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