In a report released today, Susan Anderson from B.Riley FBR reiterated a Buy rating on Chico’s FAS (CHS), with a price target of $5. The company’s shares closed yesterday at $3.23, close to its 52-week low of $2.98.
Anderson noted:
“After the market close on 7/18, CHS announced the permanent appointment of Bonnie Brooks as Chico’s FAS. Bonnie had been serving as since late April. Along with the appointment of Ms. Brooks, CHS announced that the company would be re-organizing into an apparel group, made up of an intimates group consisting of Soma and TellTale. The company appointed the role of Apparel Group President, where she will manage the two apparel brands. Ms. Langenstein joins from Macy’s where she most recently served as General Business Manager, Ready-to-Wear. Mary van Praag will continue in her role as President.”
According to TipRanks.com, Anderson is a 3-star analyst with an average return of 0.7% and a 41.4% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica Inc, Turning Point Brands, and Callaway Golf.
The word on The Street in general, suggests a Hold analyst consensus rating for Chico’s FAS with a $4.10 average price target.
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Based on Chico’s FAS’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $2.03 million. In comparison, last year the company had a net profit of $28.29 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CHS in relation to earlier this year.
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Chico’s FAS, Inc. engages in the retail of women’s private branded, sophisticated, casual-to-dressy apparel, intimates, and complementary accessories. 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.
