Five Below (NASDAQ:FIVE) Issues Q1 2024 Earnings Guidance

Five Below (NASDAQ:FIVE) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.580-0.690 for the period, compared to the consensus earnings per share estimate of 0.760. The company issued revenue guidance of $826.0 million-$846.0 million, compared to the consensus revenue estimate of $852.0 million. Five Below also updated its FY 2024 guidance to 5.710-6.220 EPS.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FIVE shares. Craig Hallum downgraded shares of Five Below from a buy rating to a hold rating and reduced their price objective for the company from $220.00 to $195.00 in a research report on Tuesday, January 16th. Wells Fargo & Company cut Five Below from an overweight rating to an equal weight rating and set a $215.00 price objective on the stock. in a research report on Thursday, January 4th. Oppenheimer lowered Five Below from an outperform rating to a market perform rating and decreased their target price for the stock from $235.00 to $200.00 in a research report on Tuesday, January 30th. JPMorgan Chase & Co. upped their price target on Five Below from $217.00 to $222.00 and gave the stock an overweight rating in a research note on Monday, January 29th. Finally, Telsey Advisory Group reissued an outperform rating and set a $230.00 price objective on shares of Five Below in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Five Below currently has a consensus rating of Moderate Buy and an average target price of $220.18.

Five Below Stock Performance

Shares of NASDAQ FIVE traded up $2.31 during midday trading on Wednesday, hitting $208.97. 1,265,919 shares of the company’s stock traded hands, compared to its average volume of 678,991. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21. The firm has a fifty day moving average of $192.99 and a 200 day moving average of $184.39. Five Below has a 1 year low of $144.57 and a 1 year high of $220.19.

Insiders Place Their Bets

In other Five Below news, Director Thomas Vellios sold 10,000 shares of Five Below stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $185.82, for a total transaction of $1,858,200.00. Following the transaction, the director now owns 333,697 shares of the company’s stock, valued at $62,007,576.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five Below

Institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its position in shares of Five Below by 54.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 853 shares of the specialty retailer’s stock valued at $176,000 after buying an additional 300 shares in the last quarter. Ossiam lifted its stake in shares of Five Below by 39.6% in the 1st quarter. Ossiam now owns 677 shares of the specialty retailer’s stock valued at $139,000 after purchasing an additional 192 shares during the last quarter. State of Wyoming boosted its holdings in shares of Five Below by 342.8% in the 2nd quarter. State of Wyoming now owns 611 shares of the specialty retailer’s stock worth $120,000 after purchasing an additional 473 shares during the period. Belpointe Asset Management LLC increased its position in shares of Five Below by 14.9% during the 1st quarter. Belpointe Asset Management LLC now owns 585 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 76 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Five Below by 108.6% during the 1st quarter. Covestor Ltd now owns 582 shares of the specialty retailer’s stock valued at $92,000 after buying an additional 303 shares during the period.

About Five Below

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.