Collective Brands, Inc. (PSS) has been upgraded today by the securities research analysts at investment firm Caris & Company which raised Collective Brands from a “below” rating to “average.” Caris also increased their performance outlook for Collective Brands and adjusted their price target from $12 to $14 dollars. Caris believes that the board of the company is ‘in the right’ with their search of new leadership despite interim CEO, Michael Massey, at the helm.
PSS slid today during the intraday session which was not out of the ordinary despite today’s upgraded rating change at Car & Company since both the NASDAQ, Dow both fell as global austerity fears weighed on global markets. PSS has largely rode above its 10-day simple moving average beginning on the upswing of June 17th, 2011.
Collective Brands is slated to release their next earnings report on September 1st, 2011, and the current consensus EPS estimate is expected to be 21 cents. Collective Brands’ last earnings report was released on May 24th, 2011, and announced EPS of 42 cents with revenue totaling $869 million which was down -1.1% year to year. PSS is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Collective Brands, Inc. is a leader in bringing compelling lifestyle, fashion and performance brands for footwear and related accessories to consumers worldwide. The company has market capitalization of $895,610,700 and 61,554,000 shares outstanding. PSS has a 52-week high of $23.96 with the low being $12.41 dollars.
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