Zacks Investment Research downgraded shares of Kirkland’s, Inc. (NASDAQ:KIRK) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Kirkland's, which has been reporting a loss for quite some time now, has lagged the industry year to date. The company has been grappling with high operating costs and soft traffic, which was also witnessed in third-quarter fiscal 2017. Kirkland’s third-quarter loss widened year over year and was worse than the consensus mark. Results were hurt by supply chain disruptions, impact from hurricanes, higher store labor and outbound freight costs. These factors, along with expectations of a higher tax rate also led to a tweaked earnings view. Nonetheless, the company continued with its solid sales trend, courtesy of contributions from new stores, focus on merchandise enhancements and a 40% surge in e-commerce sales. Solid conversions also helped Kirkland’s offset weak traffic, leading to comps growth. Notably, the company began the fourth quarter on a solid note, with its holiday season assortments and marketing efforts in place.”

A number of other research analysts have also recently commented on the company. Sidoti raised Kirkland’s from a neutral rating to a buy rating and upped their price target for the company from $10.00 to $12.00 in a research report on Tuesday, August 22nd. KeyCorp restated a buy rating and issued a $14.00 target price on shares of Kirkland’s in a research note on Friday, November 10th. Finally, B. Riley set a $15.00 target price on Kirkland’s and gave the stock a buy rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $12.50.

Shares of Kirkland’s (NASDAQ:KIRK) traded down $0.88 during trading on Wednesday, reaching $12.21. The company had a trading volume of 275,100 shares, compared to its average volume of 155,434. Kirkland’s has a 1-year low of $8.17 and a 1-year high of $17.41. The company has a market capitalization of $209.44, a P/E ratio of 27.85 and a beta of 1.23.

Kirkland’s (NASDAQ:KIRK) last announced its quarterly earnings results on Tuesday, November 21st. The specialty retailer reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $144.98 million for the quarter, compared to the consensus estimate of $142.31 million. Kirkland’s had a return on equity of 5.93% and a net margin of 1.14%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. sell-side analysts expect that Kirkland’s will post 0.55 EPS for the current fiscal year.

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Kirkland’s announced that its board has authorized a stock repurchase program on Tuesday, August 22nd that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in Kirkland’s by 1,103.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,998 shares of the specialty retailer’s stock worth $103,000 after buying an additional 9,167 shares during the period. Voya Investment Management LLC purchased a new position in shares of Kirkland’s in the 2nd quarter valued at approximately $105,000. Wells Fargo & Company MN lifted its stake in shares of Kirkland’s by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 10,533 shares of the specialty retailer’s stock valued at $131,000 after purchasing an additional 363 shares during the period. Texas Permanent School Fund lifted its stake in shares of Kirkland’s by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 10,687 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 97 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Kirkland’s in the 2nd quarter valued at approximately $112,000. Institutional investors and hedge funds own 83.35% of the company’s stock.

About Kirkland’s

Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.

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