Analyst Update: Weatherford, Container Store

Analysts adjusted their ratings on Weatherford International Plc (WFT), Container Store Group Inc (TCS), and Ollie's Bargain Outlet Holdings Inc (OLLI)

Dec 11, 2015 at 2:07 PM
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Analysts are weighing in today on oil interest Weatherford International Plc (NYSE:WFT), as well as retail concerns Container Store Group Inc (NYSE:TCS) and Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI). Here's a quick roundup of today's brokerage notes on WFT, TCS, and OLLI.

  • WFT is 7.2% lower today, last seen trading at $8.86, despite Citigroup raising its rating on the stock to "buy." On the charts, Weatherford International Plc has dropped more than 17% since the first of the month, joining most of the energy sector in sliding lower along with plummeting oil prices. And while nearly 7% of the stock's available float is wrapped up in short interest -- accounting for eight days of trading, at the equity's average volume -- options traders are leaning more bullishly than usual on WFT. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 0.9 is higher than 70% of readings from the past year.

  • TCS is trading at $8.28, a loss of 18%, after BofA-Merrill Lynch cut its rating on the stock to "underperform" all the way from "buy," and sharply reduced its price target to $9 from $23, sending Container Store Group Inc to a new all-time low of $8.10. Today's movement was just more of the same for the stock, which has been trending steadily lower since the beginning of 2014 -- just two months after the security began trading publicly. Traders are expecting more lows ahead for TCS, as nearly one-fifth of its total float is sold short -- a level that would take more than 12 days to buy back, at the stock's average daily pace.

  • OLLI was in the black earlier today, thanks to an upgrade to "buy" from "neutral" at BofA-Merrill Lynch, but has since succumbed to broad-market headwinds. The stock is trading 1.9% lower at $16.75, giving up a healthy portion of yesterday's earnings-inspired gains. Since publicly trading for the first time in July, Ollie's Bargain Outlet Holdings Inc has been trending mostly lower on the charts, giving up 20% of its value so far. But while nearly 23% of the stock's float is currently sold short -- accounting for more than 14 days' of pent-up buying demand, at OLLI's typical pace of trading -- options traders have shown a strong preference for calls. On the ISE, CBOE, and PHLX, the stock's 50-day call/put volume ratio of 6.27 indicates that more than six calls have been bought to open for every put over the last 50 trading days.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Apple Inc., Hologic, Inc., and Adobe Systems Incorporated and Analyst Downgrades: GoPro Inc, Staples, Inc., and ConocoPhillips.

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