Farfetch (NYSE:FTCH) Stock Rating Lowered by Zacks Investment Research

Farfetch (NYSE:FTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

FTCH has been the topic of several other research reports. KeyCorp cut their price objective on Farfetch from $27.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Credit Suisse Group cut their price objective on Farfetch from $22.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein downgraded Farfetch from a “market perform” rating to an “underperform” rating in a report on Wednesday, November 13th. Goldman Sachs Group restated a “buy” rating and set a $21.40 price objective (down previously from $37.00) on shares of Farfetch in a report on Monday, November 4th. Finally, ValuEngine upgraded Farfetch from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $22.14.

Shares of Farfetch stock opened at $12.29 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $10.20 and its two-hundred day moving average price is $11.76. Farfetch has a 52 week low of $7.43 and a 52 week high of $31.60. The stock has a market cap of $3.46 billion, a PE ratio of -20.83 and a beta of 2.61.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.09. The firm had revenue of $255.50 million for the quarter, compared to the consensus estimate of $248.31 million. Farfetch had a negative return on equity of 25.14% and a negative net margin of 35.84%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) EPS. On average, equities analysts predict that Farfetch will post -1.14 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in FTCH. First Trust Advisors LP purchased a new position in Farfetch during the 1st quarter valued at about $276,000. BlackRock Inc. grew its stake in Farfetch by 39.2% during the 2nd quarter. BlackRock Inc. now owns 1,570,536 shares of the company’s stock valued at $32,667,000 after acquiring an additional 442,430 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Farfetch during the 2nd quarter valued at about $154,000. Pathstone Family Office LLC purchased a new position in Farfetch during the 2nd quarter valued at about $187,000. Finally, Invesco Ltd. purchased a new position in Farfetch during the 2nd quarter valued at about $128,360,000. 63.71% of the stock is currently owned by institutional investors.

About Farfetch

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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