Chico’s FAS, Inc. (CHS) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Chico’s FAS, Inc. (NYSE:CHS) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “CHICO’S FAS, INC. is a specialty retailer of exclusively designed, private label casual clothing and related accessories. Each store offers collections of color coordinated tops, pants, shorts, skirts, jumpsuits, dresses, vests, jackets, outerwear, socks and accessories, including leather and fabric belts, scarves, earrings, necklaces and bracelets. “
CHS has been the topic of several other reports. BidaskClub lowered Chico’s FAS from a sell rating to a strong sell rating in a report on Wednesday, July 19th. Deutsche Bank AG cut their target price on Chico’s FAS from $16.00 to $11.00 and set a hold rating on the stock in a report on Thursday, May 25th. Jefferies Group LLC restated a hold rating and set a $11.00 target price on shares of Chico’s FAS in a report on Thursday, July 6th. ValuEngine lowered Chico’s FAS from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Bank of America Corporation cut their target price on Chico’s FAS from $16.50 to $12.00 and set a neutral rating on the stock in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $13.43.
Shares of Chico’s FAS (NYSE:CHS) traded up 6.23% during mid-day trading on Wednesday, hitting $8.18. The company had a trading volume of 3,879,147 shares. The company has a market cap of $1.03 billion, a PE ratio of 11.41 and a beta of 0.66. Chico’s FAS has a 12 month low of $7.52 and a 12 month high of $16.85. The firm has a 50-day moving average of $8.60 and a 200-day moving average of $11.43.
Chico’s FAS (NYSE:CHS) last released its quarterly earnings data on Wednesday, May 24th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $583.70 million for the quarter, compared to analyst estimates of $624.75 million. Chico’s FAS had a net margin of 3.86% and a return on equity of 17.36%. Chico’s FAS’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts expect that Chico’s FAS will post $0.79 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be paid a $0.0825 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 4.03%. Chico’s FAS’s payout ratio is presently 46.48%.
In related news, Director Ross E. Roeder sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $9.50, for a total transaction of $47,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ross E. Roeder sold 10,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $9.75, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of CHS. BlackRock Inc. raised its position in shares of Chico’s FAS by 21,451.3% in the first quarter. BlackRock Inc. now owns 13,414,812 shares of the specialty retailer’s stock valued at $190,490,000 after buying an additional 13,352,566 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Chico’s FAS by 21.4% in the second quarter. Vanguard Group Inc. now owns 15,134,008 shares of the specialty retailer’s stock valued at $142,563,000 after buying an additional 2,671,543 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Chico’s FAS by 37.4% in the first quarter. Wellington Management Group LLP now owns 8,743,445 shares of the specialty retailer’s stock valued at $124,158,000 after buying an additional 2,379,362 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in shares of Chico’s FAS during the first quarter valued at about $23,495,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Chico’s FAS during the first quarter valued at about $15,203,000.
About Chico’s FAS
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.
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