Zacks Investment Research Lowers Farfetch (NYSE:FTCH) to Sell

Zacks Investment Research cut shares of Farfetch (NYSE:FTCH) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

A number of other brokerages also recently commented on FTCH. Credit Suisse Group lifted their price target on shares of Johnson & Johnson from $152.00 to $156.00 and gave the stock an outperform rating in a report on Thursday, May 16th. Wells Fargo & Co set a $32.00 price target on shares of Farfetch and gave the stock a buy rating in a report on Wednesday, June 12th. Citigroup lowered their price target on shares of Hasbro from $106.00 to $103.00 and set a buy rating for the company in a report on Monday, March 11th. Oppenheimer initiated coverage on shares of Farfetch in a report on Monday, March 11th. They set an outperform rating and a $34.00 price target for the company. Finally, KeyCorp lowered their price target on shares of FedEx from $215.00 to $190.00 and set an overweight rating for the company in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Farfetch currently has a consensus rating of Buy and an average price target of $28.27.

Shares of FTCH opened at $19.79 on Tuesday. The company has a current ratio of 4.57, a quick ratio of 4.22 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.95 billion and a PE ratio of -33.54. The business’s 50-day simple moving average is $20.84. Farfetch has a 12-month low of $15.98 and a 12-month high of $32.40.

Farfetch (NYSE:FTCH) last announced its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.19). The business had revenue of $174.06 million for the quarter, compared to the consensus estimate of $171.06 million. The company’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) EPS. Research analysts predict that Farfetch will post -0.89 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FTCH. Barclays PLC grew its holdings in Farfetch by 163.6% in the fourth quarter. Barclays PLC now owns 5,800 shares of the company’s stock valued at $103,000 after purchasing an additional 3,600 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Farfetch during the fourth quarter worth approximately $135,000. FNY Investment Advisers LLC purchased a new stake in Farfetch during the first quarter worth approximately $228,000. California Public Employees Retirement System purchased a new stake in Farfetch during the fourth quarter worth approximately $238,000. Finally, Shikiar Asset Management Inc. purchased a new stake in Farfetch during the first quarter worth approximately $242,000. Hedge funds and other institutional investors own 48.31% of the company’s stock.

About Farfetch

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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