Chico’s FAS (NYSE:CHS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Chico’s FAS (NYSE:CHS) from a hold rating to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports. The brokerage currently has $4.75 target price on the specialty retailer’s stock.

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. ValuEngine raised shares of Chico’s FAS from a hold rating to a buy rating in a report on Wednesday, November 27th. B. Riley raised their price objective on shares of Chico’s FAS from $5.50 to $6.00 and gave the stock a buy rating in a report on Thursday, January 9th. Finally, Telsey Advisory Group raised their price objective on shares of Chico’s FAS from $3.00 to $5.00 and gave the stock a market perform rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Chico’s FAS presently has a consensus rating of Buy and a consensus target price of $4.55.

Shares of NYSE CHS traded down $0.05 during mid-day trading on Tuesday, hitting $4.14. 58,509 shares of the stock were exchanged, compared to its average volume of 2,580,844. The company has a market cap of $493.46 million, a P/E ratio of 13.37 and a beta of 0.35. The stock’s fifty day simple moving average is $4.16 and its two-hundred day simple moving average is $3.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.43 and a current ratio of 1.09. Chico’s FAS has a twelve month low of $2.33 and a twelve month high of $6.37.

Chico’s FAS (NYSE:CHS) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The company had revenue of $484.71 million during the quarter, compared to analyst estimates of $473.21 million. Chico’s FAS had a negative net margin of 1.23% and a negative return on equity of 1.37%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. As a group, equities research analysts predict that Chico’s FAS will post -0.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.087 per share. This represents a $0.35 annualized dividend and a dividend yield of 8.41%. The ex-dividend date of this dividend was Friday, December 6th. Chico’s FAS’s payout ratio is 112.90%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Chico’s FAS during the third quarter valued at approximately $125,000. Atria Investments LLC bought a new stake in shares of Chico’s FAS during the second quarter valued at approximately $41,000. World Asset Management Inc grew its stake in shares of Chico’s FAS by 26.2% during the third quarter. World Asset Management Inc now owns 21,770 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 4,522 shares during the last quarter. Jefferies Group LLC bought a new position in Chico’s FAS in the second quarter valued at approximately $77,000. Finally, State of Tennessee Treasury Department boosted its stake in Chico’s FAS by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 50,956 shares of the specialty retailer’s stock valued at $205,000 after acquiring an additional 4,006 shares during the last quarter. 94.61% of the stock is currently owned by institutional investors and hedge funds.

About Chico’s FAS

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 brand names. The Chico's brand primarily sells private branded clothing focusing on women 45 and older.

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