Analyst Update: Bob Evans Farms Inc, Mobileye NV, and Cepheid

Analysts adjusted their ratings on Bob Evans Farms Inc (BOBE), Mobileye NV (MBLY), and Cepheid (CPHD)

by Kirra Fedyszyn

Published on Dec 2, 2015 at 11:27 AM

Analysts are weighing in today on restaurant interest Bob Evans Farms Inc (NASDAQ:BOBE), software developer Mobileye NV (NYSE:MBLY), and molecular diagnostics company Cepheid (NASDAQ:CPHD). Here's a quick roundup of today's brokerage notes on BOBE, MBLY, and CPHD.

  • BOBE is 5.1% lower at $37.85 today, just off a three-year low of $36.56, after reporting quarterly earnings. While earnings per share beat estimates on the Street, Bob Evans Farms Inc's revised full-year revenue projections disappointed, prompting Oppenheimer to lower its price target on the stock to $45 from $50. BOBE has been struggling for most of this year, dropping hard after hitting an all-time high of $60.15 in early March. Currently 10.6% of the stock's available float is sold short -- accounting for nearly 11 days of trading, at BOBE's typical volumes. But near-term options traders might be kicking rocks today. The stock has a Schaeffer's put/call open interest ratio (SOIR) of 0.55 -- lower than 90% of comparable readings from the past year, suggesting short-term traders are more call-heavy than usual.

  • Analysts at Evercore ISI began coverage on MBLY, giving the stock a "buy" rating and calling it the dominant player in the field. As a result, the shares have popped 3.2% higher, last seen trading at $44.87. Mobileye NV has spent the past few months bouncing between support at $42 and resistance at $50, even after reporting strong quarterly earnings in early November. Nine out of 11 analysts give it "buy" rating or better, but short interest on MBLY has increased by 21.6% over the last two reporting periods, and now accounts for almost a quarter of the stock's total float. At MBLY's average pace of trading , it would take 11 days to buy back all of those short positions -- action that could easily send the shares higher.

  • CPHD is trading 5% lower, last seen at $33.45, due to a downgrade to "market perform" at Wells Fargo. Cepheid yesterday cut its 2017 gross margin estimates, and reaffirmed its 2015 outlook. The stock has had a roller coaster of a year on the charts, hitting an all-time high of $63.69 in July, then dipping to a nearly three-year low of $29.21 by late October, after cutting its quarterly revenue guidance. Over the past 60 days, Cepheid has underperformed the S&P 500 Index (SPX) by more than 34 percentage points. And the stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 24.5 -- indicating that nearly 25 puts have been purchased for each call during the past two weeks. Still, 12 analysts following Cepheid give it a "strong buy" rating, compared to five "holds," leaving plenty of room for further downgrades.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Chevron Corporation, Alphabet Inc, and Guidewire Software Inc and Analyst Downgrades: Nike Inc, Seadrill Ltd, and Vale SA.

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