Netshoes (CAYMAN) (NYSE:NETS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Netshoes (Cayman) Limited is a sports and lifestyle online retailer primarily in Latin America. The company’s product includes athletic shoes, jerseys, apparels, accessories and sporting equipment of international, local and private brands as well as fashion. It operates primarily in Brazil, Argentina and Mexico. Netshoes (Cayman) Limited is headquartered in São Paulo, Brazil. “
Several other brokerages have also commented on NETS. Goldman Sachs lowered Netshoes (CAYMAN) from a “buy” rating to a “neutral” rating in a research note on Friday, January 19th. ValuEngine raised Netshoes (CAYMAN) from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Netshoes (CAYMAN) presently has a consensus rating of “Hold” and an average price target of $21.90.
NETS opened at $5.70 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.40 and a quick ratio of 0.82. Netshoes has a 1 year low of $4.59 and a 1 year high of $26.96.
Netshoes (CAYMAN) (NYSE:NETS) last released its quarterly earnings data on Wednesday, March 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.22). The firm had revenue of $159.99 million for the quarter, compared to the consensus estimate of $183.95 million. Netshoes (CAYMAN) had a negative net margin of 9.00% and a negative return on equity of 39.23%. research analysts expect that Netshoes will post -1.01 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in NETS. JPMorgan Chase & Co. acquired a new stake in Netshoes (CAYMAN) in the 3rd quarter valued at $108,000. Hudson Bay Capital Management LP boosted its stake in Netshoes (CAYMAN) by 309.3% in the 4th quarter. Hudson Bay Capital Management LP now owns 197,778 shares of the company’s stock valued at $1,562,000 after buying an additional 149,459 shares in the last quarter. Finally, Sands Capital Management LLC boosted its stake in Netshoes (CAYMAN) by 6.8% in the 4th quarter. Sands Capital Management LLC now owns 1,279,725 shares of the company’s stock valued at $10,110,000 after buying an additional 81,400 shares in the last quarter. 61.83% of the stock is currently owned by institutional investors and hedge funds.
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About Netshoes (CAYMAN)
Netshoes (Cayman) Limited, through its subsidiaries, operates as a sports and lifestyle online retailer in Latin America. It offers various products, including athletic shoes, jerseys, apparels, accessories, and sporting equipment of international, local, and private brands, as well as fashion. The company operates through its ecommerce Websites, such as www.netshoes.com and www.zattini.com.
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