Kirkland's (NASDAQ:KIRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, January 8th.
According to Zacks, “Kirkland's, which has been reporting a loss for quite some time now, has lagged the industry in the past year. The company has been grappling with high operating costs and soft traffic, which was also witnessed in third-quarter fiscal 2017. Kirkland’s third-quarter loss widened year over year and was worse than the consensus mark. Results were hurt by supply chain disruptions, impact from hurricanes, higher store labor and outbound freight costs. These factors, along with expectations of a higher tax rate also led to a tweaked earnings view. Nonetheless, the company continued with its solid sales trend, courtesy of contributions from new stores, focus on merchandise enhancements and a 40% surge in e-commerce sales. Solid conversions also helped Kirkland’s offset weak traffic, leading to comps growth. Notably, the company began the fourth quarter on a solid note, with its holiday season assortments and marketing efforts in place.”
KIRK has been the topic of several other research reports. B. Riley reissued a “buy” rating and set a $14.50 target price on shares of Kirkland's in a research report on Wednesday, November 22nd. KeyCorp reissued a “buy” rating and set a $14.00 target price on shares of Kirkland's in a research report on Friday, November 10th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Kirkland's currently has an average rating of “Buy” and a consensus target price of $12.50.
Kirkland's (NASDAQ KIRK) opened at $10.90 on Monday. Kirkland's has a 1 year low of $8.17 and a 1 year high of $13.42. The firm has a market cap of $174.33, a PE ratio of 23.19 and a beta of 1.06.
Kirkland's (NASDAQ:KIRK) last posted its earnings results on Tuesday, November 21st. The specialty retailer reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Kirkland's had a return on equity of 5.93% and a net margin of 1.14%. The firm had revenue of $144.98 million for the quarter, compared to the consensus estimate of $142.31 million. During the same period in the prior year, the business earned ($0.05) EPS. Kirkland's’s quarterly revenue was up 4.9% compared to the same quarter last year. equities analysts predict that Kirkland's will post 0.49 earnings per share for the current year.
In related news, Director Gregory A. Sandfort purchased 7,639 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were bought at an average price of $13.12 per share, with a total value of $100,223.68. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $26,240. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.80% of the company’s stock.
Several large investors have recently bought and sold shares of KIRK. Rhumbline Advisers raised its holdings in shares of Kirkland's by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 29,738 shares of the specialty retailer’s stock worth $306,000 after purchasing an additional 1,030 shares during the period. Bank of New York Mellon Corp grew its stake in Kirkland's by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,707 shares of the specialty retailer’s stock valued at $1,909,000 after buying an additional 2,310 shares in the last quarter. Legal & General Group Plc grew its stake in Kirkland's by 8.9% in the 2nd quarter. Legal & General Group Plc now owns 26,708 shares of the specialty retailer’s stock valued at $274,000 after buying an additional 2,184 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Kirkland's in the 2nd quarter valued at approximately $514,000. Finally, JPMorgan Chase & Co. grew its stake in Kirkland's by 1,103.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,998 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 9,167 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors.
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Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.
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