Chico’s FAS, Inc. (CHS) Shares Down 7.2%

Chico’s FAS, Inc. (NYSE:CHS) shares fell 7.2% during mid-day trading on Wednesday . The stock traded as low as $7.73 and last traded at $7.97. 4,988,138 shares traded hands during mid-day trading, an increase of 65% from the average session volume of 3,029,170 shares. The stock had previously closed at $8.59.

Several brokerages recently issued reports on CHS. BidaskClub raised Chico’s FAS from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. FBR & Co reaffirmed a “buy” rating and set a $14.00 target price (down previously from $16.00) on shares of Chico’s FAS in a research report on Thursday, August 31st. ValuEngine raised Chico’s FAS from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 target price (up previously from $7.00) on shares of Chico’s FAS in a research report on Thursday, September 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Chico’s FAS in a research report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.08.

Chico’s FAS (NYSE:CHS) last posted its quarterly earnings data on Wednesday, August 30th. The specialty retailer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Chico’s FAS had a return on equity of 15.57% and a net margin of 3.94%. The company had revenue of $578.60 million for the quarter, compared to analysts’ expectations of $578.58 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year.

Institutional investors have recently bought and sold shares of the company. Parkwood LLC purchased a new stake in shares of Chico’s FAS during the second quarter worth $102,000. PNC Financial Services Group Inc. increased its position in shares of Chico’s FAS by 6.6% during the first quarter. PNC Financial Services Group Inc. now owns 7,637 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 473 shares during the period. Flinton Capital Management LLC increased its position in shares of Chico’s FAS by 85.7% during the second quarter. Flinton Capital Management LLC now owns 13,776 shares of the specialty retailer’s stock worth $130,000 after acquiring an additional 6,356 shares during the period. Welch & Forbes LLC purchased a new stake in shares of Chico’s FAS during the second quarter worth $133,000. Finally, Koch Industries Inc. purchased a new stake in shares of Chico’s FAS during the second quarter worth $142,000.

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About Chico’s FAS

Chico’s FAS, Inc is an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates and accessories, operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company is also engaged in the sale of merchandise in its domestic and international retail stores.

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