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CAT

Caterpillar

$154.69

-2.8 (-1.78%)

, TAL

TAL Education

$41.11

-4.67 (-10.20%)

07:30
06/14/18
06/14
07:30
06/14/18
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Wednesday in Caterpillar (CAT), Tal Education Group (TAL), Sanchez Energy (SN), Etsy (ETSY), GNC Holdings (GNC), and La Z Boy (LZB).

CAT

Caterpillar

$154.69

-2.8 (-1.78%)

TAL

TAL Education

$41.11

-4.67 (-10.20%)

SN

Sanchez Energy

$4.14

-0.005 (-0.12%)

ETSY

Etsy

$32.97

-0.25 (-0.75%)

GNC

GNC Holdings

$4.04

0.08 (2.02%)

LZB

La-Z-Boy

$33.10

-0.975 (-2.86%)

  • 18

    Jun

  • 19

    Jun

CAT Caterpillar
$154.69

-2.8 (-1.78%)

05/03/18
05/03/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Estee Lauder (EL) downgraded to Hold from Buy at Jefferies with analyst Stephanie Wissink saying she sees signs of growth rate moderation and rising customer level costs following third quarter results. 2. Malibu Boats (MBUU) downgraded to Market Perform from Outperform at Wells Fargo analyst Timothy Conder citing valuation. 3. Cummins (CMI) and Caterpillar (CAT) were downgraded to Neutral from Buy at BofA/Merrill. 4. Esperion (ESPR) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying it will be difficult for the stock to "dig out from" the recent pullback following the Phase III long-term safety study of bempedoic acid, which included a "curious death imbalance." 5. Habit Restaurants (HABT) downgraded to Equal Weight from Overweight at Stephens with analyst Will Slabaugh saying he sees limited visibility following the company's Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/18
BOFA
05/03/18
DOWNGRADE
Target $156
BOFA
Neutral
Caterpillar downgraded to Neutral on peak earnings, valuation at BofA/Merrill
As previously reported, BofA/Merrill downgraded Caterpillar to Neutral from Buy. Analyst Ross Gilardi believes leading indicators are looking "toppy," while Caterpillar's retail sales growth is slowing and Class 8 truck orders are at a high. The analyst notes Machinery stocks are highly correlated to ISM, which has dipped each of the last 3 months following a potential peak in February at the 60.8 reading, and expects multiple to continue to de-rate. Gilardi expects Caterpillar's earnings to top out in 2021 at approximately $15/share, implying a price target of $156, reduced from $172.
05/03/18
BOFA
05/03/18
DOWNGRADE
BOFA
Neutral
Caterpillar downgraded to Neutral from Buy at BofA/Merrill
06/14/18
UBSW
06/14/18
NO CHANGE
Target $185
UBSW
Buy
Caterpillar price target raised to $185 from $178 at UBS
UBS analyst Steven Fisher raised his price target on Caterpillar to $185 from $178 to reflect the increased capital expenditures by the global mining sector. The analyst expects the mining majors to inflect in 2018 after five years of declines. He believes Caterpillar's mining business is still in the early recovery phase along with parts of its Energy & Transportation and Construction businesses. Fisher reiterated his Buy rating on Caterpillar shares.
TAL TAL Education
$41.11

-4.67 (-10.20%)

05/24/18
05/24/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Buy from Neutral at UBS with analyst Steven Fisher saying the slow recovery in Deere's large agriculture business could accelerate in fiscal 2019 with higher grain prices, which have a favorable set-up entering the growing season. 2. Rowan Companies (RDC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Judson Bailey citing stronger offshore activity and dayrates. The analyst also raised his price target on the shares to $20 from $12. 3. SQM (SQM) upgraded to Market Perform from Underperform at Itau BBA. 4. TAL Education (TAL) upgraded to Buy from Outperform at CLSA. 5. Northern Oil and Gas (NOG) upgraded to Buy from Hold at SunTrust analyst Neal Dingmann saying that after some "painful reorganization," he sees FY18 leverage being reduced to 2.7-times enterprise value to EBITDA vs. 7.0-times in FY17. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/18
DBAB
01/04/18
INITIATION
Target $35
DBAB
Buy
TAL Education initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Tallan Zhou started TAL Education with a Buy rating and $35 price target. The analyst sees positive demographic growth in China, an increased number of wealthy families, and greater education awareness as demand drivers.
05/24/18
LYON
05/24/18
UPGRADE
LYON
Buy
TAL Education upgraded to Buy from Outperform at CLSA
04/04/18
LYON
04/04/18
DOWNGRADE
LYON
Outperform
TAL Education downgraded to Outperform from Buy at CLSA
SN Sanchez Energy
$4.14

-0.005 (-0.12%)

04/18/18
KLRG
04/18/18
DOWNGRADE
Target $3
KLRG
Hold
Sanchez Energy downgraded to Hold from Buy at KLR Group
KLR Group analyst John Gerdes downgraded Sanchez Energy to Hold with a $3 price target citing valuation.
12/15/17
JPMS
12/15/17
DOWNGRADE
JPMS
Underweight
Sanchez Energy downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Michael Glick downgraded Sanchez Energy to Underweight without a price target. The company screens in the "bottom bucket" with respect to the analyst's free cash flow analysis.
05/08/18
JRCO
05/08/18
DOWNGRADE
JRCO
Accumulate
Sanchez Energy downgraded to Accumulate from Buy at Johnson Rice
02/27/18
NORL
02/27/18
DOWNGRADE
NORL
Market Perform
Sanchez Energy downgraded to Market Perform from Outperform at Northland
ETSY Etsy
$32.97

-0.25 (-0.75%)

05/09/18
LOOP
05/09/18
NO CHANGE
Target $37
LOOP
Buy
Etsy price target raised to $37 from $32 at Loop Capital
Loop Capital analyst Laura Champine raised her price target on Etsy to $37, saying that despite the rally of the stock year-to-date, its momentum will likely continue amid the company's ongoing efforts to drive traffic to its platform. Champine expects FY18 revenue to grow 22% after a 25 increase in Q1, as the management "improves search functionality and works with sellers to drive incremental promoted listings and other seller services revenue streams". The analyst keeps her Buy rating on Etsy.
04/16/18
KEYB
04/16/18
NO CHANGE
Target $33
KEYB
Overweight
KeyBanc sees continued opportunity for Etsy to improve seller services
KeyBanc analyst Edward Yruma thinks Etsy has continued opportunity to improve seller services, and in turn, drive stronger revenue growth. The analyst notes that late last week, Etsy launched the capability for sellers to send targeted offers to customers with abandoned items in the cart, which he believes is a good example of Etsy providing better tools to its seller community and improving its take rate. Yruma has an Overweight rating and $33 price target on the stock.
05/01/18
DADA
05/01/18
NO CHANGE
Target $35
DADA
Buy
Etsy price target raised to $35 at DA Davidson ahead of earnings
DA Davidson analyst Tom Forte raised his price target on Etsy to $35 from $33 and kept his Buy rating ahead of the company's earnings next week. Forte notes that despite the 70% rise in the stock price since early February, he continues to see value in shares as investors understand the company's "unique" business model and appreciate the management's execution. The analyst does see some near-term challenges for Etsy as its comparisons for its seller services business become tougher in the second half after the company's mandated payments platform in the second half of last year.
04/10/18
04/10/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Sell at Vertical Group. 2. Philip Morris (PM) initiated with a Buy at Deutsche Bank. 3. Etsy (ETSY) initiated with a Buy at Loop Capital. 4. Zscaler (ZS) initiated with an Outperform at Credit Suisse and Baird, a Strong Buy at Needham, an Equal Weight at Morgan Stanley, Stephens, and Barclays, a Hold at Deutsche Bank, as well as a Neutral at BofA/Merrill and Goldman Sachs. 5. Equifax (EFX) initiated with an Underperform at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
GNC GNC Holdings
$4.04

0.08 (2.02%)

01/31/18
DBAB
01/31/18
NO CHANGE
DBAB
Amazon remains low-price leader in supplements, says Deutsche Bank
Deutsche Bank analyst Shane Higgins conducted an online pricing study comparing 80 identical third-party online vitamin and supplement products at GNC Holdings (GNC), Vitamin Shoppe (VSI), Amazon (AMZN) and Bodybuilding.com. The study found that Amazon "easily expanded" its price advantage against each of the other three retailers, Higgins tells investors in a research note. Among the specialty players, Vitamin Shoppe slightly improved its price advantage versus GNC, the analyst adds. He expects Amazon to keep pressure on the specialty players, particularly as its Prime membership grows.
05/30/18
MSCO
05/30/18
INITIATION
Target $3
MSCO
Equal Weight
GNC Holdings resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Simeon Gutman resumed coverage of GNC Holdings with an Equal Weight rating and $3 price target, stating that shareholder approval of Harbin's $300M investment buys time to execute a turnaround, but industry headwinds persist.
01/18/18
BOFA
01/18/18
NO CHANGE
Target $2.5
BOFA
Underperform
GNC Holdings options remain limited, says BofA/Merrill
BofA/Merrill analyst Curtis Nagle reiterated his Underperform rating and $2.50 price target on GNC Holdings saying he is skeptical that a turnaround under the One GNC strategy will lead to sustainable profitable growth. Nagle said GNC is lapping substantial price cuts this year that will make comp and gross margin growth difficult, and believes the company will have difficulty refinancing its $1.1B term loan without doing so at stiff rate.
LZB La-Z-Boy
$33.10

-0.975 (-2.86%)

08/01/17
SIDC
08/01/17
DOWNGRADE
SIDC
Neutral
La-Z-Boy downgraded to Neutral from Buy at Sidoti
Sidoti analyst Anthony Lebiedzinski downgraded La-Z-Boy to Neutral due to shares approaching his $36 price target.
08/01/17
08/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MGM Resorts (MGM) downgraded to Neutral from Buy at UBS with analyst Robin Farley saying the current valuation, with the shares up 37% over the past 12 months, now captures much of the value of the REIT transaction and improving Las Vegas outlook. 2. Boardwalk Pipeline (BWP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Elvira Scotto saying she expects the stock to be "range bound" until its 2019-2020 outlook become clearer. 3. La-Z-Boy (LZB) downgraded to Neutral from Buy at Sidoti with analyst Anthony Lebiedzinski saying shares are approaching his $36 price target. 4. Regeneron (REGN) downgraded to Underperform from Neutral at Baird with analyst Brian Skorney saying Dupixent expectations have gotten ahead of themselves and consensus numbers currently reflect an overlap with Cosentyx sales which looks like an overestimate. 5. Corporate Office Properties (OFC) downgraded to Sell from Hold at Stifel with analyst John Guinee saying he believes that the Real Estate Investment Trust will be hurt by "persistently weak leasing economics," the expirations of a large number of its leases with high rents, and efforts by defense and IT organization to keep rent costs low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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06/19
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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12:15
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06/19
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12:15
Conference/Events
Stephens food/agribusiness analyst to hold an analyst/industry conference call »

Food & Agribusiness…

MUX

McEwen Mining

$2.18

0.035 (1.64%)

12:13
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  • 26

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GFN

General Finance Corp

$11.85

-0.05 (-0.42%)

12:10
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Havner Family Trust buys 10K shares of General Finance »

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LVS

Las Vegas Sands

$79.70

-0.83 (-1.03%)

12:10
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12:10
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12:10
Options
Put buyer opens downside hedge in Las Vegas Sands after record high »

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PTC

PTC

$97.72

-0.08 (-0.08%)

12:07
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06/19
12:07
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Hot Stocks
PTC, Elysium announce new design, validation app for ThingWorx Navigate »

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KMI

Kinder Morgan

$17.21

0.04 (0.23%)

12:05
06/19/18
06/19
12:05
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12:05
Options
Kinder Morgan call volume above normal and directionally bullish »

Bullish option flow…

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TMUS

T-Mobile

$60.53

0.16 (0.27%)

, S

Sprint

$5.56

0.01 (0.18%)

12:03
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06/19
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12:03
Hot Stocks
T-Mobile, Sprint officially file merger plans with FCC »

T-Mobile US (TMUS) and…

TMUS

T-Mobile

$60.53

0.16 (0.27%)

S

Sprint

$5.56

0.01 (0.18%)

DTEGY

Deutsche Telekom

$0.00

(0.00%)

03/08/13
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FB

Facebook

$195.71

-2.59 (-1.31%)

12:01
06/19/18
06/19
12:01
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12:01
Periodicals
Facebook misses 'deadline' to answer Senator's questions, Bloomberg says »

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  • 19

    Jun

TCI

Transcontinental Realty Inc

$36.00

2.54 (7.59%)

12:00
06/19/18
06/19
12:00
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12:00
Hot Stocks
Transcontinental Realty, Adobe Properties say advisor may make stock purchases »

Transcontinental Realty…

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SMAR

Smartsheet

$29.00

-3.07 (-9.57%)

12:00
06/19/18
06/19
12:00
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12:00
Hot Stocks
Smartsheet falls -9.9% »

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SYX

Systemax

$35.40

-4 (-10.15%)

12:00
06/19/18
06/19
12:00
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12:00
Hot Stocks
Systemax falls -10.5% »

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UTX

United Technologies

$125.30

-2.2 (-1.73%)

, EADSY

Airbus

$0.00

(0.00%)

12:00
06/19/18
06/19
12:00
06/19/18
12:00
Periodicals
Pratt & Whitney close to fix for part that delayed Airbus jets, Bloomberg says »

Pratt & Whitney,…

UTX

United Technologies

$125.30

-2.2 (-1.73%)

EADSY

Airbus

$0.00

(0.00%)

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PAGS

PagSeguro Digital

$27.24

-4.92 (-15.30%)

12:00
06/19/18
06/19
12:00
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Hot Stocks
PagSeguro Digital falls -15.1% »

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  • 22

    Jun

EBR

Centrais Electricas

$3.71

0.21 (6.00%)

12:00
06/19/18
06/19
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Hot Stocks
Centrais Electricas rises 6.3% »

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UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$10.44

0.795 (8.24%)

12:00
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06/19
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Hot Stocks
ProShares Trust Ultra VIX Short Term Futures ETF rises 8.0% »

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COTV

Cotiviti Holdings

$44.02

4.13 (10.35%)

12:00
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06/19
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Hot Stocks
Cotiviti Holdings rises 10.4% »

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ARRY

Array BioPharma

$17.90

0.4 (2.29%)

11:57
06/19/18
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Conference/Events
Array BioPharma to hold a conference call »

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  • 20

    Jun

  • 30

    Jun

  • 30

    Jun

VZ

Verizon

$48.69

1.23 (2.59%)

11:57
06/19/18
06/19
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11:57
Periodicals
Verizon to cease sharing phone-location data of customers, Reuters reports »

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  • 20

    Jun

USCR

U.S. Concrete

$63.30

-1.1 (-1.71%)

11:53
06/19/18
06/19
11:53
06/19/18
11:53
Hot Stocks
U.S. Concrete rating downgraded to B2 from B1 by Moody's »

Moody's Investors…

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  • 28

    Jun

  • 29

    Jun

JD

JD.com

$41.57

-2.18 (-4.98%)

11:50
06/19/18
06/19
11:50
06/19/18
11:50
Options
Continued interest in JD Jun 22nd 45 calls even as shares slide »

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11:50
06/19/18
06/19
11:50
06/19/18
11:50
General news
Treasury's bill auctions were about average »

Treasury's bill…

KO

Coca-Cola

$43.57

0.01 (0.02%)

11:47
06/19/18
06/19
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11:47
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Arby's announces conversion to Coca-Cola beverages »

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FOX

21st Century Fox

$44.44

0.09 (0.20%)

, FOXA

21st Century Fox

$44.70

0.145 (0.33%)

11:43
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Hot Stocks
21st Century Fox says 'looks forward' to final decision clearing transaction »

21st Century Fox (FOXA)…

FOX

21st Century Fox

$44.44

0.09 (0.20%)

FOXA

21st Century Fox

$44.70

0.145 (0.33%)

SKYAY

Sky

$0.00

(0.00%)

DIS

Disney

$106.00

-1.05 (-0.98%)

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