Chico’s FAS, Inc. (CHS) Given Buy Rating at FBR & Co
FBR & Co reaffirmed their buy rating on shares of Chico’s FAS, Inc. (NYSE:CHS) in a report published on Monday morning. The brokerage currently has a $14.00 target price on the specialty retailer’s stock.
“We hosted upbeat meetings with Chief Financial Officer Todd Vogensen, VP of Investor Relations Julie Lorigan and VP of Financial Planning and Analysis Jennifer Ellis last week at B. Rileys’s consumer conference in NYC. Management is being proactive in reevaluating its cost structure, which we expect to continue to benefit the bottom line, and implementing omni channel capabilities, though the overall traffic environment continues to be a headwind. When CHS reported 2Q EPS in August we believe performance sequentially improved 3QTD from 2Q (3Q SSS guidance is -LSD vs -8% 2Q comp) and we believe better performance has continued (excluding any hurricane impact) as products are resonating better with consumers. Note though August is traditionally a transitional month and smallest of the quarter. We also believe that Hurricanes Harvey and Irma will have a ~1% impact on 3Q performance as 325 stores were closed. While there will likely continue to be environmental pressure in the short term, we expect topline to continue to improve in 2H with better product resulting in significant margin upside with cost-cutting/ operational initiatives.”,” FBR & Co’s analyst commented.
Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Chico’s FAS from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Chico’s FAS from a hold rating to a buy rating in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and issued a $8.00 target price (up previously from $7.00) on shares of Chico’s FAS in a report on Thursday, September 28th. Royal Bank Of Canada reaffirmed a buy rating on shares of Chico’s FAS in a report on Thursday, August 31st. Finally, TheStreet cut Chico’s FAS from a b- rating to a c+ rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Chico’s FAS currently has a consensus rating of Hold and an average target price of $12.31.
Chico’s FAS (CHS) opened at 8.92 on Monday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.44 and a beta of 0.68. The stock has a 50 day moving average of $8.15 and a 200-day moving average of $10.35. Chico’s FAS has a 52-week low of $6.96 and a 52-week high of $16.85.
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). The company had revenue of $578.60 million for the quarter, compared to the consensus estimate of $578.58 million. Chico’s FAS had a net margin of 3.94% and a return on equity of 15.57%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. On average, equities research analysts anticipate that Chico’s FAS will post $0.65 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parkwood LLC purchased a new stake in shares of Chico’s FAS in the second quarter valued at $102,000. PNC Financial Services Group Inc. boosted its stake in shares of Chico’s FAS by 6.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,637 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 473 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Chico’s FAS by 85.7% during the 2nd quarter. Flinton Capital Management LLC now owns 13,776 shares of the specialty retailer’s stock worth $130,000 after purchasing an additional 6,356 shares during the period. Welch & Forbes LLC purchased a new position in shares of Chico’s FAS during the 2nd quarter worth about $133,000. Finally, Koch Industries Inc. purchased a new position in shares of Chico’s FAS during the 2nd quarter worth about $142,000.
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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