Analyst Update: GoPro, Transocean LTD, Container Store

Analysts adjusted their ratings on GoPro Inc (GPRO), Transocean LTD (RIG), and Container Store Group Inc (TCS)

Jan 8, 2016 at 2:04 PM
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Analysts are weighing in today on action camera maker GoPro Inc (NASDAQ:GPRO), offshore driller Transocean LTD (NYSE:RIG), and retailer Container Store Group Inc (NYSE:TCS). Here's a quick roundup of today's brokerage notes on GPRO, RIG, and TCS.

  • GPRO is down in the dumps once again, off 3.5% at $16.42 following a price-target cut to $25 from $40 at Barclays. The shares have fallen precipitously from their early August annual high of $65.49, shedding roughly three-quarters of their value. Meanwhile, short sellers are in control on Wall Street. A full 50% of GoPro Inc's float is dedicated to short interest, or 32.9 million shares. That's just a stone's throw away from the peak short interest level of 33.3 million recorded in early November.

  • RIG received a price-target cut to $9 from $11 at Susquehanna, pressuring the stock lower. At last check, the shares have given back 1.7% at $10.81, and earlier hit a record low of $10.61. Not surprisingly, the analyst crowd is stacked against Transocean LTD. Seventeen of 18 analysts have handed the stock a "hold" or worse rating. Short sellers are likewise arrayed against RIG, with 34.9% of its float sold short -- or about 12 days' worth of trading, at typical volumes.

  • TCS is also fresh off an all-time low of $4.08, on the heels of poor quarterly results and guidance, as well as a downgrade to "neutral" from "overweight" at JPMorgan Securities. In addition, the brokerage firm removed its price target on the stock, and wrote, "It is clear that the benefits of the company's initiatives won't be enough to offset pressure on comparable sales on a sustained basis, and profit growth in 2016 will remain under duress." On top of this, Credit Suisse and Jefferies each lowered their price targets by $10, to $10 and $6, respectively. Option bulls may be feeling the heat. Container Store Group Inc's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at a top-heavy 11.75. What's more, this reading outstrips 95% of all others from the past year.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Microsoft Corporation, Boyd Gaming Corporation, and Sunedison Inc and Analyst Downgrades: Apple Inc., Qorvo Inc, and Barracuda Networks Inc.
 

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