FBR & Co Reiterates “Outperform” Rating for Cherokee Inc. (CHKE)
FBR & Co reiterated their outperform rating on shares of Cherokee Inc. (NASDAQ:CHKE) in a research note published on Tuesday, July 11th, Marketbeat.com reports. The brokerage currently has a $8.00 price target on the stock.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Cherokee from a hold rating to a sell rating in a report on Monday, March 13th. ValuEngine raised Cherokee from a hold rating to a buy rating in a report on Thursday, June 1st. Roth Capital set a $18.00 price target on Cherokee and gave the company a buy rating in a report on Monday, April 24th. Finally, B. Riley reissued a neutral rating and issued a $9.00 price target on shares of Cherokee in a report on Wednesday, May 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Cherokee currently has a consensus rating of Buy and a consensus target price of $11.65.
Shares of Cherokee (CHKE) opened at 4.90 on Tuesday. Cherokee has a 1-year low of $4.10 and a 1-year high of $11.98. The firm’s 50-day moving average is $6.30 and its 200-day moving average is $8.06. The company’s market cap is $63.46 million.
Cherokee (NASDAQ:CHKE) last issued its earnings results on Thursday, July 6th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.20. Cherokee had a positive return on equity of 6.32% and a negative net margin of 33.53%. The company had revenue of $6.80 million during the quarter, compared to analysts’ expectations of $9.25 million. During the same period in the previous year, the company earned $0.34 EPS. Cherokee’s quarterly revenue was down 36.4% on a year-over-year basis. On average, equities analysts forecast that Cherokee will post $0.72 earnings per share for the current fiscal year.
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In related news, major shareholder Strategic Opportunit Headlands purchased 91,780 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $780,130.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 9.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Cove Street Capital LLC raised its position in shares of Cherokee by 6.5% in the first quarter. Cove Street Capital LLC now owns 2,581,189 shares of the company’s stock worth $22,198,000 after buying an additional 157,369 shares during the period. Northpointe Capital LLC raised its position in shares of Cherokee by 35.5% in the second quarter. Northpointe Capital LLC now owns 948,873 shares of the company’s stock worth $6,595,000 after buying an additional 248,514 shares during the period. Renaissance Technologies LLC raised its position in shares of Cherokee by 5.4% in the fourth quarter. Renaissance Technologies LLC now owns 605,030 shares of the company’s stock worth $6,353,000 after buying an additional 31,255 shares during the period. Royce & Associates LP raised its position in shares of Cherokee by 114.1% in the first quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock worth $4,696,000 after buying an additional 291,000 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of 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 buying an additional 60,867 shares during the period. 80.07% of the stock is owned by institutional investors and hedge funds.
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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