Chico’s FAS (NYSE:CHS) Upgraded to “Hold” at Zacks Investment Research

Chico’s FAS (NYSE:CHS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

A number of other analysts have also commented on CHS. B. Riley boosted their price objective on shares of Chico’s FAS from $2.50 to $5.25 and gave the stock a “neutral” rating in a research report on Wednesday. Telsey Advisory Group boosted their price objective on shares of Chico’s FAS from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, TheStreet raised shares of Chico’s FAS from a “d” rating to a “c-” rating in a research report on Tuesday.

CHS traded down $0.25 during trading on Thursday, reaching $5.36. The company had a trading volume of 2,661,339 shares, compared to its average volume of 2,432,500. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.46 and a current ratio of 0.93. Chico’s FAS has a 12 month low of $0.91 and a 12 month high of $6.48. The company’s fifty day moving average price is $3.83. The stock has a market capitalization of $657.05 million, a P/E ratio of -1.72 and a beta of 1.54.

Chico’s FAS (NYSE:CHS) last announced its quarterly earnings results on Monday, June 7th. The specialty retailer reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.09. Chico’s FAS had a negative net margin of 27.20% and a negative return on equity of 66.99%. On average, research analysts expect that Chico’s FAS will post -0.31 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in Chico’s FAS by 72.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 114,526 shares of the specialty retailer’s stock worth $182,000 after acquiring an additional 47,938 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Chico’s FAS during the fourth quarter worth $1,485,000. Rhumbline Advisers raised its position in Chico’s FAS by 13.6% during the fourth quarter. Rhumbline Advisers now owns 425,478 shares of the specialty retailer’s stock worth $677,000 after acquiring an additional 50,786 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Chico’s FAS during the fourth quarter worth $63,000. Finally, Panagora Asset Management Inc. raised its position in Chico’s FAS by 189.4% during the fourth quarter. Panagora Asset Management Inc. now owns 263,387 shares of the specialty retailer’s stock worth $419,000 after acquiring an additional 172,365 shares in the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Chico’s FAS Company Profile

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), Soma, and TellTale brands. The Chico's brand primarily sells private branded clothing focusing on women 45 and older.

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