Zacks Investment Research upgraded shares of Cherokee Inc. (NASDAQ:CHKE) from a hold rating to a buy rating in a report issued on Tuesday morning. The brokerage currently has $5.25 target price on the stock.
According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “
A number of other research analysts have also recently weighed in on the stock. FBR & Co restated an outperform rating and issued a $8.00 price objective on shares of Cherokee in a report on Tuesday, July 11th. ValuEngine upgraded shares of Cherokee from a hold rating to a buy rating in a research note on Thursday, June 1st. B. Riley reiterated a neutral rating and issued a $9.00 price target on shares of Cherokee in a research note on Wednesday, May 17th. Finally, Roth Capital set a $18.00 price target on shares of Cherokee and gave the stock a buy rating in a research note on Saturday, May 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Cherokee has a consensus rating of Buy and a consensus target price of $11.65.
Shares of Cherokee (CHKE) traded down 2.70% during midday trading on Tuesday, hitting $5.40. 57,165 shares of the stock traded hands. Cherokee has a 52-week low of $4.10 and a 52-week high of $11.98. The company’s market cap is $69.94 million. The stock has a 50-day moving average of $8.18 and a 200-day moving average of $8.90.
Cherokee (NASDAQ:CHKE) last announced its quarterly earnings data on Thursday, July 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.20. The business had revenue of $6.80 million during the quarter, compared to analyst estimates of $9.25 million. Cherokee had a negative net margin of 33.53% and a positive return on equity of 6.32%. The company’s revenue for the quarter was down 36.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, equities analysts predict that Cherokee will post $0.72 earnings per share for the current fiscal year.
In other news, major shareholder Strategic Opportunit Headlands purchased 91,780 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average price of $8.50 per share, for a total transaction of $780,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Cherokee during the fourth quarter valued at $3,578,000. Royce & Associates LP increased its stake in shares of Cherokee by 114.1% in the first quarter. Royce & Associates LP now owns 546,000 shares of the company’s stock valued at $4,696,000 after buying an additional 291,000 shares in the last quarter. Northpointe Capital LLC increased its stake in shares of Cherokee by 62.9% in the first quarter. Northpointe Capital LLC now owns 700,359 shares of the company’s stock valued at $6,023,000 after buying an additional 270,535 shares in the last quarter. Cove Street Capital LLC increased its stake in shares of Cherokee by 6.5% in the first quarter. Cove Street Capital LLC now owns 2,581,189 shares of the company’s stock valued at $22,198,000 after buying an additional 157,369 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Cherokee during the first quarter valued at $538,000. Institutional investors and hedge funds own 80.08% of the company’s stock.
Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.
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