Chico’s FAS (NYSE:CHS) Rating Increased to Buy at Zacks Investment Research

Chico’s FAS (NYSE:CHSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $6.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.89% from the stock’s current price.

According to Zacks, “Chico’s FAS, Inc. is a cultivator of brands serving the lifestyle needs of fashion-savvy women 30 years and older. Their brand portfolio currently consists of three brands: Chico’s, White House Black Market and Soma. Their brands are all specialty retailers of private label women’s apparel, accessories and related products. Currently, they operate boutiques and outlets throughout the U.S. and Canada, as well as an online presence for each of their brands. “

CHS has been the subject of several other research reports. StockNews.com cut Chico’s FAS from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 20th. B. Riley reduced their price objective on Chico’s FAS from $6.00 to $5.00 in a research note on Wednesday, March 2nd.

Shares of CHS stock traded up $0.25 during trading on Thursday, reaching $5.51. 4,554,364 shares of the company’s stock were exchanged, compared to its average volume of 2,242,583. The company has a quick ratio of 0.35, a current ratio of 1.10 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $689.53 million, a PE ratio of 7.55 and a beta of 1.33. Chico’s FAS has a twelve month low of $3.80 and a twelve month high of $7.29. The firm’s fifty day moving average price is $4.96 and its 200-day moving average price is $4.92.

Chico’s FAS (NYSE:CHSGet Rating) last released its earnings results on Tuesday, June 7th. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.18. Chico’s FAS had a return on equity of 43.27% and a net margin of 4.59%. During the same quarter last year, the company posted ($0.08) EPS. As a group, analysts anticipate that Chico’s FAS will post 0.69 EPS for the current fiscal year.

In other news, insider Bonnie R. Brooks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $5.12, for a total value of $512,000.00. Following the completion of the sale, the insider now owns 1,285,277 shares of the company’s stock, valued at approximately $6,580,618.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bonnie R. Brooks sold 200,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $4.28, for a total transaction of $856,000.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd lifted its position in shares of Chico’s FAS by 333.0% during the first quarter. Point72 Hong Kong Ltd now owns 8,309 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 6,390 shares in the last quarter. Sei Investments Co. grew its position in shares of Chico’s FAS by 20.6% during the first quarter. Sei Investments Co. now owns 14,093 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 2,404 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of Chico’s FAS during the first quarter worth about $48,000. Virtu Financial LLC bought a new position in shares of Chico’s FAS during the fourth quarter worth about $60,000. Finally, PDT Partners LLC bought a new position in Chico’s FAS in the 1st quarter valued at about $61,000. Hedge funds and other institutional investors own 80.88% of the company’s stock.

Chico’s FAS Company Profile (Get Rating)

Chico's FAS, Inc operates as an omnichannel specialty retailer of women's private branded casual-to-dressy clothing, intimates, and complementary accessories. It operates under the Chico's, White House Black Market (WHBM)and Soma brands. The Chico's brand primarily sells private branded clothing focusing on women with moderate to high household income levels.

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