Bank of America Corporation downgraded shares of Chico’s FAS, Inc. (NYSE:CHS) from a neutral rating to an underperform rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have $7.00 price target on the specialty retailer’s stock, down from their prior price target of $8.50.
Other research analysts have also recently issued reports about the company. FBR & Co reaffirmed a buy rating and set a $14.00 price objective (down from $16.00) on shares of Chico’s FAS in a research note on Thursday, August 31st. Royal Bank Of Canada reaffirmed a buy rating on shares of Chico’s FAS in a research note on Thursday, August 31st. ValuEngine raised Chico’s FAS from a hold rating to a buy rating in a research note on Thursday, July 6th. Citigroup Inc. reiterated a buy rating and set a $10.00 target price (down from $13.00) on shares of Chico’s FAS in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Chico’s FAS from a strong sell rating to a hold rating in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Chico’s FAS currently has an average rating of Hold and an average price target of $11.67.
Chico’s FAS (CHS) opened at 7.47 on Wednesday. The stock has a 50 day moving average price of $8.30 and a 200-day moving average price of $10.01. Chico’s FAS has a 52 week low of $6.96 and a 52 week high of $16.85. The firm has a market capitalization of $938.55 million, a P/E ratio of 10.42 and a beta of 0.68.
Chico’s FAS (NYSE:CHS) last announced its quarterly earnings data on Wednesday, August 30th. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). Chico’s FAS had a net margin of 3.94% and a return on equity of 15.57%. The company had revenue of $578.60 million for the quarter, compared to the consensus estimate of $578.58 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. Analysts anticipate that Chico’s FAS will post $0.65 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Parkwood LLC purchased a new stake in Chico’s FAS in the second quarter worth about $102,000. PNC Financial Services Group Inc. lifted its holdings in Chico’s FAS by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,637 shares of the specialty retailer’s stock worth $109,000 after buying an additional 473 shares during the period. Flinton Capital Management LLC lifted its holdings in Chico’s FAS by 85.7% in the second quarter. Flinton Capital Management LLC now owns 13,776 shares of the specialty retailer’s stock worth $130,000 after buying an additional 6,356 shares during the period. Welch & Forbes LLC purchased a new stake in Chico’s FAS in the second quarter worth about $133,000. Finally, Koch Industries Inc. purchased a new stake in Chico’s FAS in the second quarter worth about $142,000.
Chico’s FAS Company Profile
Chico’s FAS, Inc is an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates and accessories, operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company is also engaged in the sale of merchandise in its domestic and international retail stores.