Downgrade Alert for Regis (RGS)
Regis (NYSE:RGS) was downgraded from Neutral to Underweight at Piper Jaffray today. The stock closed yesterday at $12.36 on volume of 1.3 million shares, above average daily volume of 201,000.
Regis Corporation operates and franchises hair and retail product salons. Regis' salons operate under the Regis Hairstylists, Supercuts, MasterCuts, Trade Secret, and SmartStyle banners. The Company operates worldwide.
There is potential upside of 53.7% for shares of Regis based on a current price of $12.36 and an average consensus analyst price target of $19.00. The stock should run into initial resistance at its 200-day moving average (MA) of $14.43 and subsequent resistance at its 50-day MA of $14.90.
Regis share prices have moved between a 52-week high of $18.13 and a 52-week low of $10.60 and closed yesterday at 17% above that low price at $12.36 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Regis on April 28th, 2016 by issuing a Downtrend alert when the shares were trading at $14.29. Since that call, shares of Regis have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades regis