Analyst Downgrades: Allegiant Travel Company, Ralph Lauren Corp, and QUALCOMM, Inc.

Analysts downwardly revised their ratings on Allegiant Travel Company (ALGT), Ralph Lauren Corp (RL), and QUALCOMM, Inc. (QCOM)

Kirra Fedyszyn
Dec 21, 2015 at 9:55 AM
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Analysts are weighing in on airline interest Allegiant Travel Company (NASDAQ:ALGT), apparel retailer Ralph Lauren Corp (NYSE:RL), and telecom concern QUALCOMM, Inc. (NASDAQ:QCOM)Here's a quick roundup of today's bearish brokerage notes on ALGT, RL, and QCOM.

  • ALGT is up 1.6% at $170.96 this morning, even after receiving a price-target cut to $228 from $247 at Deutsche Bank -- still at a hefty premium to today's price. Allegiant Travel Company has added 13% on the charts in 2015, but the shares have been slipping since hitting an all-time high of $235.92 in August, and have not followed other airlines in rallying on plummeting oil prices. Two-thirds of analysts following the stock currently give ALGT a lukewarm "hold" rating, and traders seem to agree. Nearly 6% of the stock's available float is sold short, accounting for almost a full week of trading, at the equity's typical volumes.
  • RL is 0.8% lower at $110.80, as Susquehanna cut its price target on the stock to $145 from $150. Ralph Lauren Corp has lost roughly 40% so far this year, and has been struggling alongside other apparel retailers as surplus inventory and unseasonably warm weather have weighed on the companies' bottom lines. Short interest on the stock surged 22.7% during the last reporting period, now accounting for more than five days' worth of trading, at RL's average daily pace. And options traders have been bearish, too. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security sports a 10-day put/call volume ratio of 6.34 -- higher than 87% of all readings from the past year.
  • QCOM is trading at $47.93, up 1% from Friday's close, despite receiving a price-target cut to $48 from $49 at BMO -- just the latest in a round of negative notes for QUALCOMM, Inc. The stock has lost 35.5% in 2015, and touched a four-year low last week just before announcing it it won't break up. That hasn't stopped options traders from making bullish bets, however. At the ISE, CBOE, and PHLX, the stock has a 50-day call/put volume ratio of 2.28 -- higher than nearly three-fourths of comparable readings from the last 12 months, indicating more than a 2-to-1 preference for calls over puts during the last 10 weeks of trading.

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