Zacks Investment Research Lowers Cherokee (CHKE) to Strong Sell

Zacks Investment Research downgraded shares of Cherokee (NASDAQ:CHKE) from a hold rating to a strong sell rating in a report published on Monday.

According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “

Several other research analysts also recently commented on CHKE. Roth Capital dropped their price target on Cherokee from $18.00 to $10.00 and set a buy rating on the stock in a research report on Monday, August 21st. FBR & Co reaffirmed a buy rating and issued a $8.00 price target on shares of Cherokee in a research report on Wednesday, September 6th. B. Riley reaffirmed a buy rating on shares of Cherokee in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Cherokee from a hold rating to a buy rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Cherokee presently has an average rating of Buy and a consensus price target of $7.19.

Shares of Cherokee (CHKE) opened at $2.05 on Monday. Cherokee has a 1-year low of $1.66 and a 1-year high of $11.35.

Cherokee (NASDAQ:CHKE) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.12). The business had revenue of $11.04 million during the quarter, compared to the consensus estimate of $9.90 million. Cherokee had a negative return on equity of 0.68% and a negative net margin of 42.20%. The business’s quarterly revenue was up 69.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. research analysts forecast that Cherokee will post -0.1 EPS for the current year.

A number of large investors have recently made changes to their positions in CHKE. Dimensional Fund Advisors LP grew its position in Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock valued at $2,451,000 after acquiring an additional 10,531 shares during the period. Northpointe Capital LLC boosted its stake in Cherokee by 35.5% in the second quarter. Northpointe Capital LLC now owns 948,873 shares of the company’s stock worth $6,595,000 after purchasing an additional 248,514 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Cherokee by 3.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock worth $451,000 after purchasing an additional 2,258 shares in the last quarter. Marathon Capital Management acquired a new position in Cherokee in the second quarter worth $287,000. Finally, Penn Capital Management Co. Inc. boosted its stake in Cherokee by 65.3% in the second quarter. Penn Capital Management Co. Inc. now owns 516,718 shares of the company’s stock worth $3,591,000 after purchasing an additional 204,146 shares in the last quarter. Hedge funds and other institutional investors own 61.46% of the company’s stock.

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About Cherokee

Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.

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