Chico’s FAS (NYSE:CHS) Shares Down 6.6%

Chico’s FAS, Inc. (NYSE:CHS) was down 6.6% during mid-day trading on Friday . The stock traded as low as $1.25 and last traded at $1.27, approximately 1,824,097 shares traded hands during mid-day trading. A decline of 35% from the average daily volume of 2,792,278 shares. The stock had previously closed at $1.36.

Separately, Zacks Investment Research cut shares of Chico’s FAS from a “hold” rating to a “sell” rating in a research note on Friday, June 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $3.76.

The company’s 50-day moving average price is $1.37 and its two-hundred day moving average price is $2.19. The company has a current ratio of 1.12, a quick ratio of 0.50 and a debt-to-equity ratio of 1.96.

Chico’s FAS (NYSE:CHS) last posted its quarterly earnings data on Wednesday, June 10th. The specialty retailer reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.13). The company had revenue of $280.26 million for the quarter, compared to analysts’ expectations of $343.53 million. Chico’s FAS had a negative net margin of 10.72% and a negative return on equity of 10.53%. As a group, sell-side analysts expect that Chico’s FAS, Inc. will post -0.64 earnings per share for the current year.

In other Chico’s FAS news, insider Molly Langenstein bought 75,000 shares of Chico’s FAS stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $1.33 per share, with a total value of $99,750.00. Also, CEO Bonnie R. Brooks bought 77,176 shares of Chico’s FAS stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average cost of $1.30 per share, for a total transaction of $100,328.80. In the last ninety days, insiders have purchased 186,176 shares of company stock worth $243,279. 1.80% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in CHS. Norges Bank bought a new position in shares of Chico’s FAS during the 4th quarter valued at $4,201,000. Goldman Sachs Group Inc. grew its holdings in Chico’s FAS by 99.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,976,947 shares of the specialty retailer’s stock worth $7,532,000 after acquiring an additional 986,208 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Chico’s FAS in the 2nd quarter worth $1,042,000. JPMorgan Chase & Co. grew its holdings in Chico’s FAS by 172.8% in the 1st quarter. JPMorgan Chase & Co. now owns 915,006 shares of the specialty retailer’s stock worth $1,180,000 after acquiring an additional 579,611 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Chico’s FAS in the 1st quarter worth $742,000. 90.62% of the stock is currently owned by institutional investors.

About Chico’s FAS (NYSE:CHS)

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

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