Morgan Stanley Lowers Chico’s FAS (CHS) Price Target to $5.00

Chico’s FAS (NYSE:CHS) had its target price reduced by Morgan Stanley from $7.50 to $5.00 in a research report released on Friday morning. They currently have an equal weight rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently commented on CHS. Zacks Investment Research cut Chico’s FAS from a buy rating to a hold rating in a research note on Tuesday, November 20th. B. Riley set a $7.00 target price on Chico’s FAS and gave the stock a buy rating in a research note on Thursday. ValuEngine cut Chico’s FAS from a sell rating to a strong sell rating in a research note on Wednesday. Citigroup lowered their target price on Chico’s FAS from $9.00 to $5.00 and set a neutral rating on the stock in a research note on Thursday. Finally, Bank of America lowered their target price on Chico’s FAS from $6.50 to $4.00 and set an underperform rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $7.14.

NYSE CHS opened at $5.40 on Friday. The firm has a market cap of $666.20 million, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. Chico’s FAS has a one year low of $4.42 and a one year high of $10.90. The company has a current ratio of 2.01, a quick ratio of 1.15 and a debt-to-equity ratio of 0.09.

Chico’s FAS (NYSE:CHS) last released its earnings results on Wednesday, November 28th. The specialty retailer reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The business had revenue of $499.90 million for the quarter, compared to the consensus estimate of $515.63 million. Chico’s FAS had a return on equity of 10.14% and a net margin of 3.66%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. As a group, sell-side analysts forecast that Chico’s FAS will post 0.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Monday, December 10th will be paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Friday, December 7th. Chico’s FAS’s dividend payout ratio is currently 50.00%.

A number of institutional investors have recently made changes to their positions in CHS. Royal Bank of Canada raised its stake in Chico’s FAS by 208.2% in the 1st quarter. Royal Bank of Canada now owns 18,186 shares of the specialty retailer’s stock valued at $164,000 after acquiring an additional 12,286 shares during the period. Principal Financial Group Inc. raised its stake in Chico’s FAS by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,082,884 shares of the specialty retailer’s stock valued at $9,789,000 after acquiring an additional 38,582 shares during the period. Bank of Montreal Can raised its stake in Chico’s FAS by 1,047.1% in the 2nd quarter. Bank of Montreal Can now owns 203,193 shares of the specialty retailer’s stock valued at $1,653,000 after acquiring an additional 185,479 shares during the period. Janney Montgomery Scott LLC bought a new stake in Chico’s FAS in the 2nd quarter valued at about $150,000. Finally, Aperio Group LLC raised its stake in Chico’s FAS by 57.7% in the 2nd quarter. Aperio Group LLC now owns 55,439 shares of the specialty retailer’s stock valued at $451,000 after acquiring an additional 20,293 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

About Chico’s FAS

Chico's FAS, Inc operates as an omni-channel specialty retailer of women's private branded, casual-to-dressy clothing, intimates, and complementary accessories. The company's portfolio of brands consists of the Chico's, White House Black Market (WHBM), and Soma. The Chico's brand primarily sells private branded clothing focusing on women 45 and older.

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Analyst Recommendations for Chico`s FAS (NYSE:CHS)

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