Sears (SHLD) PT Set at $3.00 by Susquehanna Bancshares

Susquehanna Bancshares set a $3.00 price target on Sears (NASDAQ:SHLD) in a research note issued to investors on Friday. The brokerage currently has a sell rating on the stock.

Shares of Sears (SHLD) opened at $3.93 on Friday. Sears has a 52-week low of $3.62 and a 52-week high of $14.32. The company has a quick ratio of 0.19, a current ratio of 0.80 and a debt-to-equity ratio of -0.51.

Sears (NASDAQ:SHLD) last posted its earnings results on Thursday, November 30th. The company reported ($2.64) EPS for the quarter, beating the Zacks’ consensus estimate of ($4.46) by $1.82. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company earned ($3.45) EPS. The company’s revenue was down 27.2% on a year-over-year basis.

In other Sears news, major shareholder Bruce R. Berkowitz sold 143,800 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $4.61, for a total transaction of $662,918.00. Following the transaction, the insider now owns 799,516 shares in the company, valued at approximately $3,685,768.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bruce R. Berkowitz sold 38,800 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $4.26, for a total transaction of $165,288.00. Following the transaction, the insider now owns 799,516 shares in the company, valued at approximately $3,405,938.16. The disclosure for this sale can be found here. Corporate insiders own 89.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Sears by 19.3% during the 1st quarter. Vanguard Group Inc. now owns 2,410,353 shares of the company’s stock valued at $27,695,000 after purchasing an additional 389,988 shares in the last quarter. State Street Corp increased its stake in shares of Sears by 5.9% in the second quarter. State Street Corp now owns 2,087,415 shares of the company’s stock worth $18,496,000 after acquiring an additional 116,765 shares during the period. California Public Employees Retirement System increased its stake in shares of Sears by 4.8% in the third quarter. California Public Employees Retirement System now owns 451,827 shares of the company’s stock worth $3,298,000 after acquiring an additional 20,879 shares during the period. Balyasny Asset Management LLC increased its stake in shares of Sears by 57.3% in the second quarter. Balyasny Asset Management LLC now owns 412,000 shares of the company’s stock worth $3,650,000 after acquiring an additional 150,000 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Sears by 2.9% in the first quarter. Geode Capital Management LLC now owns 354,623 shares of the company’s stock worth $4,073,000 after acquiring an additional 10,126 shares during the period. Institutional investors and hedge funds own 60.19% of the company’s stock.

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About Sears

Sears Holdings Corporation is an integrated retailer. The Company is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co (Sears). The Company’s segments are Kmart and Sears Domestic. It also offers Shop Your Way, a member-based social shopping platform that offers rewards and personalized services.

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