Chico’s FAS Inc. (CHS) Lowered to Sell at Zacks Investment Research

Posted by on Jul 30th, 2016

Chico’s FAS Inc. (NYSE:CHS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

A number of other equities analysts also recently issued reports on CHS. FBR & Co restated a “buy” rating on shares of Chico’s FAS in a research note on Sunday, May 29th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Chico’s FAS in a report on Sunday, May 29th. SunTrust Banks Inc. decreased their target price on Chico’s FAS from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Mizuho decreased their target price on Chico’s FAS from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Finally, Nomura reaffirmed a “buy” rating and issued a $13.00 target price on shares of Chico’s FAS in a report on Monday, April 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.47.

Other hedge funds and institutional investors have made changes to their positions in the company. Norges Bank acquired a new position in shares of Chico’s FAS during the fourth quarter valued at about $15,202,000. Goldman Sachs Group Inc. raised its position in shares of Chico’s FAS by 150.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,162,468 shares of the company’s stock valued at $28,696,000 after buying an additional 1,300,077 shares during the period. Schroder Investment Management Group acquired a new position in shares of Chico’s FAS during the fourth quarter valued at about $12,970,000. Eagle Asset Management raised its position in shares of Chico’s FAS by 98.4% in the third quarter. Eagle Asset Management now owns 1,612,618 shares of the company’s stock valued at $25,366,000 after buying an additional 799,891 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Chico’s FAS by 351.6% in the first quarter. Teachers Advisors Inc. now owns 958,536 shares of the company’s stock valued at $12,720,000 after buying an additional 746,280 shares during the period.

Chico’s FAS (NYSE:CHS) traded up 0.42% during mid-day trading on Wednesday, reaching $12.02. The company had a trading volume of 1,522,156 shares. The stock has a 50 day moving average price of $11.14 and a 200-day moving average price of $11.52. Chico’s FAS has a 12-month low of $9.61 and a 12-month high of $17.09. The stock’s market capitalization is $1.58 billion.

Chico’s FAS (NYSE:CHS) last issued its earnings results on Thursday, May 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by $0.06. During the same quarter last year, the company posted $0.28 EPS. The business earned $642.98 million during the quarter, compared to analyst estimates of $668.67 million. The company’s revenue was down 7.9% on a year-over-year basis. Equities analysts anticipate that Chico’s FAS will post $0.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Monday, September 12th will be given a $0.08 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.32 annualized dividend and a yield of 2.66%.

Chico’s FAS, Inc is a specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories and other non-clothing items operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company’s brands are specialty retailers of private label women’s apparel and related products.