Analyst Downgrades: CalAmp Corp., Stein Mart, Inc., and Mylan NV

Analysts downwardly revised their ratings and price targets on CalAmp Corp. (CAMP), Stein Mart, Inc. (SMRT), and Mylan NV (MYL)

by Kirra Fedyszyn

Published on Sep 30, 2016 at 10:08 AM

Analysts are weighing in on wireless communications specialist CalAmp Corp. (NASDAQ:CAMP), retail concern Stein Mart, Inc. (NASDAQ:SMRT), and pharmaceutical stock Mylan NV (NASDAQ:MYL). Here's a quick roundup of today's bearish brokerage notes on CAMP, SMRT, and MYL.

  • CAMP is plunging 15.7% to $13.84, following the company's disappointing quarterly results and lackluster current-quarter outlook. The results prompted B. Riley to cut its price target on the stock to $22 from $29, with Northland Capital lowering its price target to $19. CalAmp Corp. has had a rough year so far, giving back over 30% of its value, but eight out of nine analysts still rate the shares a "strong buy," without a "sell" opinion in sight. Options traders have also taken a call-heavy approach, particularly among the sock's short-term options. CAMP's Schaeffer's put/call open interest ratio (SOIR) of 0.50 ranks in the low 19th percentile of its annual range.
  • SMRT received a downgrade to "hold" at Johnson Rice in response to Thursday's report of lower-than-anticipated sales figured for the third quarter and the departure of the company's CEO. Nonetheless, the shares have added 0.3% to $6.32 this morning, paring their year-to-date loss to 6%, after shedding more than 16% in Thursday's session. This bounce may not be what short sellers were hoping for. The 2.5% of Stein Mart, Inc.'s available float wrapped up in short interest still represents roughly 10 days' worth of trading, at the stock's typical daily volumes.
  • MYL is sliding 1.2% to $38.01 -- not far off last October's annual low of $37.59 -- after Leerink slashed its price target on the stock by $10 to $45. Mylan NV has shed nearly 30% year-to-date amid the recent EpiPen pricing scandal. But it looks like options traders may be hoping for a rebound. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 0.84 ranks in the top third of all readings in the past year. And MYL's SOIR of 0.51 shows calls nearly doubling puts among options set to expire in three months of less. Moreover, this ratio ranks lower than 95% of all readings taken in the last 12 months.
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