Cherokee Inc. (NASDAQ:CHKE) Receives Average Recommendation of “Buy” from Brokerages
Shares of Cherokee Inc. (NASDAQ:CHKE) have been assigned a consensus rating of “Buy” from the six analysts that are covering the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.00.
A number of research analysts recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $23.00 target price on shares of Cherokee in a report on Wednesday, September 7th. TheStreet cut Cherokee from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Zacks Investment Research cut Cherokee from a “hold” rating to a “sell” rating in a report on Monday, September 12th. Wunderlich reduced their target price on Cherokee from $26.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Finally, Roth Capital reiterated a “buy” rating on shares of Cherokee in a report on Monday, June 13th.
In related news, major shareholder Strategic Opportunit Headlands acquired 10,000 shares of Cherokee stock in a transaction on Friday, July 29th. The shares were bought at an average price of $10.38 per share, for a total transaction of $103,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Menta Capital LLC boosted its position in Cherokee by 1.8% in the second quarter. Menta Capital LLC now owns 16,637 shares of the company’s stock valued at $185,000 after buying an additional 300 shares during the period. Geode Capital Management LLC boosted its position in Cherokee by 1.0% in the first quarter. Geode Capital Management LLC now owns 69,501 shares of the company’s stock valued at $1,236,000 after buying an additional 711 shares during the period. Envestnet Asset Management Inc. boosted its position in Cherokee by 34.7% in the first quarter. Envestnet Asset Management Inc. now owns 10,264 shares of the company’s stock valued at $183,000 after buying an additional 2,645 shares during the period. Punch & Associates Investment Management Inc. boosted its position in Cherokee by 1.7% in the second quarter. Punch & Associates Investment Management Inc. now owns 308,605 shares of the company’s stock valued at $3,429,000 after buying an additional 5,285 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Cherokee by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 277,242 shares of the company’s stock valued at $3,080,000 after buying an additional 11,966 shares during the period. Institutional investors own 84.78% of the company’s stock.
Cherokee (NASDAQ:CHKE) opened at 10.30 on Wednesday. The firm has a market cap of $89.73 million, a price-to-earnings ratio of 12.89 and a beta of 0.92. The company’s 50-day moving average price is $10.73 and its 200 day moving average price is $13.25. Cherokee has a 1-year low of $9.29 and a 1-year high of $19.73.
Cherokee (NASDAQ:CHKE) last issued its earnings results on Thursday, September 8th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. Cherokee had a return on equity of 20.07% and a net margin of 20.10%. The firm had revenue of $8.50 million for the quarter, compared to analysts’ expectations of $8.98 million. During the same quarter last year, the firm earned $1.47 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts expect that Cherokee will post $0.65 earnings per share for the current fiscal year.
Cherokee Company Profile
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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