Cherokee Inc. (NASDAQ:CHKE)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a research report issued on Wednesday. They currently have a $23.00 target price on the stock. B. Riley’s price objective suggests a potential upside of 123.74% from the company’s previous close.
Several other research firms also recently commented on CHKE. Zacks Investment Research downgraded Cherokee from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 14th. Roth Capital reiterated a “buy” rating on shares of Cherokee in a research report on Monday, June 13th. Finally, TheStreet cut Cherokee from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.75.
Shares of Cherokee (NASDAQ:CHKE) traded down 8.78% during mid-day trading on Wednesday, reaching $10.28. The company’s stock had a trading volume of 57,050 shares. The company has a 50-day moving average price of $11.09 and a 200 day moving average price of $14.01. Cherokee has a 52-week low of $10.21 and a 52-week high of $19.73. The company has a market cap of $89.64 million, a PE ratio of 12.36 and a beta of 0.90.
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Cherokee (NASDAQ:CHKE) last posted its quarterly earnings data on Thursday, September 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Cherokee had a return on equity of 20.52% and a net margin of 20.10%. The firm had revenue of $8.50 million for the quarter, compared to the consensus estimate of $8.98 million. During the same quarter last year, the company earned $1.47 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts expect that Cherokee will post $0.74 earnings per share for the current year.
In related news, Director Jess M. Ravich acquired 13,130 shares of the stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average cost of $12.70 per share, with a total value of $166,751.00. Following the purchase, the director now directly owns 225,916 shares of the company’s stock, valued at $2,869,133.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Strategic Opportunit Headlands acquired 10,000 shares of the stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $10.38 per share, with a total value of $103,800.00. The disclosure for this purchase can be found here. Corporate insiders own 10.50% of the company’s stock.
Several large investors recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake 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 last quarter. Envestnet Asset Management Inc. raised its stake in shares of 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. Punch & Associates Investment Management Inc. raised its stake in shares of Cherokee by 1.7% in the second quarter. Punch & Associates Investment Management Inc. now owns 308,605 shares of the company’s stock worth $3,429,000 after buying an additional 5,285 shares in the last quarter. Pembroke Management LTD raised its stake in shares of Cherokee by 1.7% in the fourth quarter. Pembroke Management LTD now owns 651,442 shares of the company’s stock worth $11,237,000 after buying an additional 10,695 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of Cherokee by 30.9% in the fourth quarter. Driehaus Capital Management LLC now owns 286,699 shares of the company’s stock worth $4,946,000 after buying an additional 67,672 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.
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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