Ascendiant Capital Markets initiated coverage on shares of Chico’s (NYSE: CHS) in a research report sent to investors on Thursday morning, TheFlyOnTheWall.com reports. The firm issued a strong-buy rating and a $26.00 price target on the stock.
“We are initiating coverage on CHS with a Strong Buy rating and a $26 price target. In our opinion, CHS is the clear leader in the Contemporary/Missy market with several sustainable topline growth drivers. We further believe there is upside profit potential given the company’s core competencies in design, sourcing, marketing and logistics and given the attractive demographics of its targeted customer base.,” the firm’s analyst wrote.
A number of other firms have also recently commented on CHS. Analysts at Susquehanna cut their price target on shares of Chico’s from $22.00 to $21.00 in a research note to investors on Wednesday, March 6th. They now have a positive rating on the stock. Separately, analysts at JPMorgan Chase cut their price target on shares of Chico’s from $21.00 to $19.00 in a research note to investors on Wednesday, March 6th. They now have an overweight rating on the stock. Finally, analysts at Maxim Group initiated coverage on shares of Chico’s in a research note to investors on Tuesday, March 5th. They set a buy rating and a $22.00 price target on the stock.
Seven research analysts have rated the stock with a buy rating, nine have issued a hold rating, and one has given a sell rating to the stock. The stock currently has a consensus rating of overweight and a consensus target price of $20.54.
Chico’s (NYSE: CHS) traded up 0.11% on Thursday, hitting $17.91. Chico’s has a 52-week low of $13.52 and a 52-week high of $19.76. The stock’s 50-day moving average is currently $17.46. The company has a market cap of $2.884 billion and a price-to-earnings ratio of 16.56.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 1st. Stockholders of record on Monday, March 18th will be given a dividend of $0.06 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Chico’s's previous quarterly dividend of $0.05.
Chico’s FAS, Inc. is a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items under the Chico’s, White House / Black Market (WH/BM) and Soma Intimates (Soma) brand names.
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