Analyst Update: Regis, Freeport-McMoRan, Hilton Worldwide

Analysts revised their ratings and price targets on Regis Corporation (NYSE:RGS), Freeport-McMoRan Inc (NYSE:FCX), and Hilton Worldwide Holdings Inc (NYSE:HLT)

May 19, 2016 at 3:19 PM
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Analysts are weighing in on beauty salon operator Regis Corporation (NYSE:RGS), mining stock Freeport-McMoRan Inc (NYSE:FCX), and hotel giant Hilton Worldwide Holdings Inc (NYSE:HLT). Here's a quick roundup of today's brokerage notes on RGS, FCX, and HLT.

  • RGS fell by nearly 20% earlier today, after Piper Jaffray downgraded the stock's rating to "underweight" and lowered its price target to $8, citing increased costs due to the Labor Department's new overtime rules. However, this downgrade has since been reversed, after Regis Corporation disclosed that its managers aren't salaried employees -- the basis of Piper's analysis -- and already claim overtime. After being halted for a short time, RGS has resumed trading, and was last seen down 8.3% at $12.47. As for Piper Jaffray, it wound up returning the stock's rating to "neutral" -- matching the opinion of every other brokerage firm on Wall Street -- and raising its price target to $12. 

  • Goldman Sachs this morning initiated coverage on FCX with a "neutral" opinion and a $12 price target. The stock has responded with a 3.3% gain at $10.89, though it's struggled since topping out around $14 earlier this month. While most analysts share Goldman's tepid outlook on Freeport-McMoRan Inc, short-term options traders have taken a decidedly put-skewed approach. This, according to FCX's Schaeffer's put/call open interest ratio (SOIR) of 1.34 -- in the 90th percentile of its annual range. 

  • HLT has been trending lower since the shares were rejected by their 200-day moving average earlier this month, and today, they're down 2.9% at $20.47 -- sitting just below their year-to-date breakeven level. Sparking the sell-off is a downgrade to "neutral" at BofA-Merrill Lynch, on top of sector-wide headwinds related to the EgyptAir plane crash. Hilton Worldwide Holdings Inc could be vulnerable to additional downgrades, too, if the stock continues to struggle. After all, 12 of 14 covering analysts call HLT a "buy" or better. 

For other stocks in analysts' crosshairs, read Analyst Upgrades: Cisco Systems, Inc., salesforce.com, inc., and American Eagle Outfitters and Analyst Downgrades: L Brands Inc, Urban Outfitters, Inc., and Take-Two Interactive Software, Inc. 

 

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