Christopher & Banks (NYSE:CBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women’s clothing providing exclusive fashions under the Christopher & Banks and C.J. Banks labels. Currently, the Company operates 351 stores in 30 states, located primarily in the northern half of the United States. “
Separately, ValuEngine cut Christopher & Banks from a “sell” rating to a “strong sell” rating in a report on Saturday.
Christopher & Banks (CBK) traded down $0.01 during trading on Wednesday, hitting $1.00. The company had a trading volume of 365,062 shares, compared to its average volume of 121,987. Christopher & Banks has a fifty-two week low of $0.95 and a fifty-two week high of $1.62. The company has a market capitalization of $38.97, a PE ratio of -1.69 and a beta of 3.31.
Christopher & Banks (NYSE:CBK) last released its quarterly earnings results on Thursday, March 8th. The specialty retailer reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.04. Christopher & Banks had a negative return on equity of 35.95% and a negative net margin of 6.02%. The business had revenue of $92.27 million during the quarter. During the same period in the prior year, the firm earned ($0.46) earnings per share. analysts forecast that Christopher & Banks will post -0.13 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in CBK. Renaissance Technologies LLC raised its holdings in Christopher & Banks by 3.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,695,100 shares of the specialty retailer’s stock worth $3,423,000 after purchasing an additional 94,900 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Christopher & Banks by 8.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 85,073 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 6,474 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Christopher & Banks by 1.5% during the 2nd quarter. Northern Trust Corp now owns 106,505 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 1,619 shares during the last quarter. 38.86% of the stock is owned by hedge funds and other institutional investors.
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Christopher & Banks Company Profile
Christopher & Banks Corporation is a national specialty retailer featuring private-brand women’s apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women’s apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes.
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