Gordmans Stores Lowered to “Neutral” at Piper Jaffray (GMAN)

Gordmans Stores (NASDAQ: GMAN) was downgraded by Piper Jaffray from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.

The analysts wrote, “Management indicated that it expects Q1 same-store sales to be down in the low-double digits in Q1, reflecting a challenging spending environment for moderate-income consumers as well as unseasonable weather across much of the country thus far in the quarter. It appears that current inventory levels are higher than were previously anticipated, and we believe that the gross margin weakness that management anticipates in Q1 as a result could potentially carry through to future quarters if moderate-income consumer spending on apparel continues to be challenged.”

A number of other firms have also recently commented on GMAN. Analysts at Zacks upgraded shares of Gordmans Stores from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, March 19th. They now have a $14.60 price target on the stock. Finally, analysts at TheStreet downgraded shares of Gordmans Stores from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, January 29th.

Shares of Gordmans Stores (NASDAQ: GMAN) opened at 14.22 on Tuesday. Gordmans Stores has a 52 week low of $11.55 and a 52 week high of $22.86. The stock’s 50-day moving average is currently $13.41. The company has a market cap of $273.5 million and a P/E ratio of 10.69.

Gordmans Stores (NASDAQ: GMAN) last released its earnings data on Monday, March 25th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.04. The company had revenue of $202.50 million for the quarter, compared to the consensus estimate of $202.82 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Gordmans Stores will post $1.17 EPS for the current fiscal year.

Gordmans Stores, Inc. is an everyday low price retailer featuring a large selection of the latest brands, fashions and styles at up to 60% off department and specialty store prices every day.

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