Chico’s FAS Inc. (CHS) Rating Increased to Buy at Zacks Investment Research
Chico’s FAS Inc. (NYSE:CHS) 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. The firm currently has a $17.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 9.47% from the stock’s previous close.
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 analysts have also recently weighed in on CHS. Jefferies Group reaffirmed a “hold” rating on shares of Chico’s FAS in a research report on Monday, August 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Chico’s FAS in a research report on Thursday, August 25th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Chico’s FAS in a research report on Tuesday, August 30th. Piper Jaffray Cos. increased their price objective on Chico’s FAS from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Finally, Mizuho raised their price target on Chico’s FAS from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Chico’s FAS presently has a consensus rating of “Buy” and an average target price of $14.50.
Shares of Chico’s FAS (NYSE:CHS) opened at 15.53 on Thursday. Chico’s FAS has a one year low of $9.61 and a one year high of $16.07. The firm has a 50-day moving average price of $12.76 and a 200 day moving average price of $11.85. The stock has a market capitalization of $2.01 billion, a PE ratio of 98.92 and a beta of 0.73.
Chico’s FAS (NYSE:CHS) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Chico’s FAS had a return on equity of 16.24% and a net margin of 2.24%. The company earned $596.90 million during the quarter, compared to analysts’ expectations of $610.83 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities analysts expect that Chico’s FAS will post $0.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, December 5th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, December 1st. Chico’s FAS’s payout ratio is 76.19%.
A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Chico’s FAS by 37.5% in the third quarter. JPMorgan Chase & Co. now owns 6,731,576 shares of the company’s stock valued at $80,106,000 after buying an additional 1,837,430 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Chico’s FAS during the second quarter valued at $16,978,000. Peregrine Capital Management LLC bought a new position in Chico’s FAS during the third quarter valued at $14,307,000. Dimensional Fund Advisors LP increased its position in Chico’s FAS by 25.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,038,059 shares of the company’s stock valued at $53,957,000 after buying an additional 1,029,247 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in Chico’s FAS by 3,975.6% in the third quarter. Gotham Asset Management LLC now owns 543,364 shares of the company’s stock valued at $6,466,000 after buying an additional 530,032 shares during the last quarter. 91.80% of the stock is owned by institutional investors.
About Chico’s FAS
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.
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