Roth Capital Cuts Cherokee Inc. (CHKE) Price Target to $6.50

Cherokee Inc. (NASDAQ:CHKE) had its target price decreased by Roth Capital from $10.00 to $6.50 in a research note released on Thursday. Roth Capital currently has a buy rating on the stock.

CHKE has been the subject of a number of other reports. ValuEngine upgraded Cherokee from a hold rating to a buy rating in a report on Thursday, June 1st. Zacks Investment Research lowered Cherokee from a strong-buy rating to a hold rating in a research report on Friday, July 7th. Finally, FBR & Co restated an outperform rating and set a $8.00 price objective on shares of Cherokee in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Cherokee has an average rating of Hold and a consensus price target of $7.19.

Cherokee (CHKE) opened at 2.75 on Thursday. The firm’s 50-day moving average price is $4.27 and its 200 day moving average price is $6.84. The firm’s market cap is $38.36 million. Cherokee has a 52-week low of $2.75 and a 52-week high of $11.87.

Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Thursday, September 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). Cherokee had a negative net margin of 42.78% and a positive return on equity of 1.52%. The firm had revenue of $14.00 million for the quarter, compared to analyst estimates of $7.81 million. During the same quarter in the previous year, the company earned $0.22 EPS. The company’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, equities research analysts forecast that Cherokee will post $0.17 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of CHKE. Russell Investments Group Ltd. lifted its holdings in Cherokee by 17.9% in the first quarter. Russell Investments Group Ltd. now owns 401,539 shares of the company’s stock worth $3,453,000 after acquiring an additional 60,867 shares during the last quarter. Oxford Asset Management grew its holdings in shares of Cherokee by 42.0% during the first quarter. Oxford Asset Management now owns 84,049 shares of the company’s stock valued at $723,000 after purchasing an additional 24,866 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Cherokee by 114.1% during the first quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock valued at $4,696,000 after purchasing an additional 291,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cherokee by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock valued at $2,451,000 after purchasing an additional 10,531 shares during the last quarter. Finally, Cove Street Capital LLC grew its holdings in shares of Cherokee by 6.5% during the first quarter. Cove Street Capital LLC now owns 2,581,189 shares of the company’s stock valued at $22,198,000 after purchasing an additional 157,369 shares during the last quarter. 72.50% of the stock is currently owned by hedge funds and other 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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