Chico’s FAS (NYSE:CHS) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Chico’s FAS, Inc. (NYSE:CHS) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $5.12, but opened at $5.26. Chico’s FAS shares last traded at $5.48, with a volume of 427,694 shares trading hands.

The specialty retailer reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $545.13 million for the quarter, compared to the consensus estimate of $554.90 million. Chico’s FAS had a net margin of 5.34% and a return on equity of 34.78%. During the same period in the prior year, the business posted $0.34 earnings per share.

Wall Street Analyst Weigh In

Several research firms have commented on CHS. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 target price on shares of Chico’s FAS in a research report on Tuesday, August 22nd. StockNews.com started coverage on Chico’s FAS in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, TheStreet upgraded shares of Chico’s FAS from a “c+” rating to a “b” rating in a research note on Tuesday, June 6th.

Institutional Trading of Chico’s FAS

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Chico’s FAS by 26.6% during the first quarter. American Century Companies Inc. now owns 486,516 shares of the specialty retailer’s stock worth $2,335,000 after buying an additional 102,099 shares in the last quarter. Citigroup Inc. boosted its stake in Chico’s FAS by 11.7% during the first quarter. Citigroup Inc. now owns 102,036 shares of the specialty retailer’s stock worth $490,000 after buying an additional 10,670 shares in the last quarter. Bank of Montreal Can boosted its stake in Chico’s FAS by 8.7% during the first quarter. Bank of Montreal Can now owns 34,843 shares of the specialty retailer’s stock worth $172,000 after buying an additional 2,784 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Chico’s FAS by 115.6% during the first quarter. MetLife Investment Management LLC now owns 57,147 shares of the specialty retailer’s stock worth $274,000 after buying an additional 30,640 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Chico’s FAS by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 105,643 shares of the specialty retailer’s stock worth $507,000 after buying an additional 13,083 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Chico’s FAS Price Performance

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.11 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $5.58 and its two-hundred day simple moving average is $5.42. The stock has a market cap of $625.94 million, a price-to-earnings ratio of 5.51 and a beta of 1.25.

About Chico’s FAS

Chico's FAS, Inc operates as an omnichannel specialty retailer of women's private branded casual-to-dressy clothing, intimates, and complementary accessories in the United States, Puerto Rico, Virgin Islands; and franchise locations in Mexico and domestic airports. The company operates under the Chico's, White House Black Market (WHBM), and Soma brands.