Cherokee Inc. (CHKE) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Cherokee Inc. (NASDAQ:CHKE) from a hold rating to a sell rating in a research report report published on Monday morning.

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) “

Several other equities research analysts also recently weighed in on CHKE. B. Riley reissued a buy rating and issued a $23.00 target price on shares of Cherokee in a research note on Friday, June 10th. Roth Capital reaffirmed a buy rating on shares of Cherokee in a research note on Monday, June 13th. TheStreet downgraded shares of Cherokee from a buy rating to a hold rating in a research note on Tuesday, June 14th. Finally, Wunderlich reduced their price target on shares of Cherokee from $26.00 to $18.00 and set a buy rating on the stock in a research note on Friday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $22.00.

Cherokee (NASDAQ:CHKE) opened at 10.45 on Monday. Cherokee has a 52 week low of $9.29 and a 52 week high of $19.73. The stock has a 50 day moving average of $10.85 and a 200 day moving average of $13.56. The company has a market cap of $91.04 million, a P/E ratio of 13.08 and a beta of 0.90.

Cherokee (NASDAQ:CHKE) last announced its earnings results on Thursday, September 8th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Cherokee had a net margin of 20.10% and a return on equity of 20.07%. The business had revenue of $8.50 million for the quarter, compared to the consensus estimate of $8.98 million. During the same quarter in the prior year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect that Cherokee will post $0.65 earnings per share for the current year.

In other Cherokee news, major shareholder Strategic Opportunit Headlands bought 10,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were acquired at an average price of $11.00 per share, with a total value of $110,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Alpine Partners VI LLC purchased a new stake in Cherokee during the second quarter worth $133,000. Alambic Investment Management L.P. purchased a new stake in Cherokee during the second quarter worth $176,000. Oxford Asset Management purchased a new stake in Cherokee during the second quarter worth $177,000. Envestnet Asset Management Inc. boosted its stake in Cherokee by 34.7% in the first quarter. Envestnet Asset Management Inc. now owns 10,264 shares of the company’s stock worth $183,000 after buying an additional 2,645 shares in the last quarter. Finally, Menta Capital LLC boosted its stake in Cherokee by 1.8% in the second quarter. Menta Capital LLC now owns 16,637 shares of the company’s stock worth $185,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

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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