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In a report released today, Brian Tunick from RBC Capital downgraded Chico’s FAS (CHS) to Hold, with a price target of $4.50. The company’s shares closed yesterday at $4.79, close to its 52-week low of $4.42.
According to TipRanks.com, Tunick is a 4-star analyst with an average return of 4.0% and a 52.4% success rate. Tunick covers the Services sector, focusing on stocks such as Signet Jewelers Limited, Abercrombie Fitch, and Burlington Stores.
Currently, the analyst consensus on Chico’s FAS is a Moderate Buy with an average price target of $8.25.
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Based on Chico’s FAS’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $6.3 million. In comparison, last year the company had a net profit of $16.3 million.
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Chico’s FAS, Inc. engages in the retail of private label women’s apparel, accessories and other non-clothing items. The firm’s product portfolio consists of the following brands: Chico’s, Soma, and White House Black Market. It also operates boutiques, retail stores and websites to sell the products. The company was founded by Helene B. Gralnick and Marvin L.
