Zacks Investment Research Upgrades Chico’s FAS (CHS) to Buy

Zacks Investment Research upgraded shares of Chico’s FAS (NYSE:CHS) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $8.50 price target 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. “

A number of other equities analysts have also commented on CHS. TheStreet lowered Chico’s FAS from a b- rating to a c rating in a research note on Monday, July 2nd. ValuEngine upgraded Chico’s FAS from a sell rating to a hold rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $9.67.

Chico’s FAS stock opened at $7.81 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.15 and a current ratio of 2.01. The stock has a market capitalization of $964.10 million, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78. Chico’s FAS has a 52 week low of $7.01 and a 52 week high of $10.90.

Chico’s FAS (NYSE:CHS) last posted its quarterly earnings data on Wednesday, August 29th. The specialty retailer reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $544.72 million for the quarter, compared to analyst estimates of $541.02 million. Chico’s FAS had a return on equity of 11.79% and a net margin of 4.06%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. Analysts anticipate that Chico’s FAS will post 0.63 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Chico’s FAS by 54.6% during the second quarter. Jennison Associates LLC now owns 159,940 shares of the specialty retailer’s stock valued at $1,302,000 after acquiring an additional 56,501 shares during the period. Strs Ohio bought a new position in Chico’s FAS during the second quarter valued at about $943,000. Dimensional Fund Advisors LP increased its stake in Chico’s FAS by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,881,891 shares of the specialty retailer’s stock valued at $88,580,000 after acquiring an additional 1,218,303 shares during the period. Contrarius Investment Management Ltd increased its stake in Chico’s FAS by 15.8% during the second quarter. Contrarius Investment Management Ltd now owns 853,887 shares of the specialty retailer’s stock valued at $6,951,000 after acquiring an additional 116,445 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Chico’s FAS by 828.1% during the second quarter. Renaissance Technologies LLC now owns 1,677,100 shares of the specialty retailer’s stock valued at $13,652,000 after acquiring an additional 1,496,400 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Chico’s FAS Company Profile

Chico's FAS, Inc operates as an omni-channel specialty retailer of women's private branded, casual-to-dressy clothing, intimates, and complementary accessories. The company's portfolio of brands consists of the Chico's, White House Black Market (WHBM), and Soma. The Chico's brand primarily sells private branded clothing focusing on women 45 and older.

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