Cherokee Inc. (NASDAQ:CHKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “

Several other equities research analysts have also issued reports on CHKE. B. Riley reissued a “buy” rating and set a $23.00 price target on shares of Cherokee in a research report on Friday, June 10th. Roth Capital reissued a “buy” rating on shares of Cherokee in a research report on Monday, June 13th. TheStreet lowered Cherokee from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Wunderlich dropped their price target on Cherokee from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.00.

Cherokee (NASDAQ:CHKE) traded down 2.00% on Monday, hitting $9.80. The stock had a trading volume of 65,559 shares. The company has a market cap of $85.38 million, a PE ratio of 12.27 and a beta of 0.90. The stock has a 50-day moving average of $10.99 and a 200-day moving average of $13.86. Cherokee has a one year low of $9.29 and a one year high of $19.73.

Cherokee (NASDAQ:CHKE) last posted its quarterly earnings results on Thursday, September 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $8.50 million for the quarter, compared to analyst estimates of $8.98 million. Cherokee had a return on equity of 20.07% and a net margin of 20.10%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 EPS. Equities analysts expect that Cherokee will post $0.65 earnings per share for the current fiscal year.

In related news, major shareholder Strategic Opportunit Headlands acquired 10,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $10.38 per share, for a total transaction of $103,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpine Partners VI LLC acquired a new position in Cherokee during the second quarter valued at about $133,000. Alambic Investment Management L.P. acquired a new position in Cherokee during the second quarter valued at about $176,000. Oxford Asset Management acquired a new position in Cherokee during the second quarter valued at about $177,000. Envestnet Asset Management Inc. boosted its position in Cherokee by 34.7% in the first quarter. Envestnet Asset Management Inc. now owns 10,264 shares of the company’s stock valued at $183,000 after buying an additional 2,645 shares during the last quarter. Finally, Menta Capital LLC boosted its position in Cherokee by 1.8% in the second quarter. Menta Capital LLC now owns 16,637 shares of the company’s stock valued at $185,000 after buying an additional 300 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

About Cherokee

Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.

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