Analyst Downgrades: Zoe's Kitchen Inc, Logitech International SA, and Pan American Silver Corp.

Analysts downwardly revised their ratings and price targets on Zoe's Kitchen Inc (ZOES), Logitech International SA (USA) (LOGI), and Pan American Silver Corp. (USA) (PAAS)

by Alex Eppstein

Published on Aug 23, 2016 at 9:45 AM
Updated on Jun 24, 2020 at 10:16 AM

Analysts are weighing in on restaurant stock Zoe's Kitchen Inc (NYSE:ZOES), tech concern Logitech International SA (USA) (NASDAQ:LOGI), and commodities issue Pan American Silver Corp. (USA) (NASDAQ:PAAS). Here's a quick roundup of today's bearish brokerage notes on ZOES, LOGI, and PAAS.

  • ZOES has plunged 15% to $31.66, and landed on the short-sale restricted (SSR) list, following an underwhelming earnings report. Adding insult to injury, Deutsche Bank, Credit Suisse, Maxim, and Cowen cut their price targets on the stock. On the charts, Zoe's Kitchen Inc is now trading at its lowest level since Feb. 25, just before the shares gapped higher on upbeat earnings. While the stock is SSR today, plenty of short sellers have been betting against it. Specifically, 29.5% of ZOES' float is sold short, or almost 19 times the equity's typical daily trading volume.
  • LOGI is off 2.8% at $21.49, but remains just a chip-shot from last week's five-year high of $22.42. Pressuring the shares is UBS, which lowered its rating to "neutral" from "buy," citing potential "sales growth setbacks." At the same time, the brokerage firm boosted its price target to SFR 22.50 from SFR 20. On the options front, short-term traders are very put-skewed toward Logitech International SA. The stock's Schaeffer's put/call open interest ratio (SOIR) rests at a top-heavy 3.32, outstripping 81% of all readings taken in the past year.
  • BMO lowered its assessment of PAAS to "market perform" from "outperform." The stock is 1.6% lower at $20.20, bucking its long-term upward trend. Year-to-date, in fact, Pan American Silver Corp. has more than tripled in value, and late last week touched a three-year peak of $21.59. Accordingly, bullish betting has been popular at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Specifically, traders have bought to open nearly four PAAS calls for every put during the last 10 sessions.
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