Ann Upgraded to Buy by Janney Montgomery Scott (ANN)
Ann (NYSE:ANN) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $38.00 price target on the stock. Janney Montgomery Scott’s price objective would indicate a potential upside of 20.71% from the company’s current price. The analysts noted that the move was a valuation call.
ANN has been the subject of a number of other recent research reports. Analysts at FBR & Co. downgraded shares of Ann from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 1st. Separately, analysts at FBR Capital Markets initiated coverage on shares of Ann in a research note to investors on Thursday, August 1st. They set a “market perform” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Ann in a research note to investors on Friday, July 19th. They set a “buy” rating and a $33.70 price target on the stock.
Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.52.
Ann (NYSE:ANN) traded up 4.67% on Tuesday, hitting $32.95. 803,562 shares of the company’s stock traded hands. Ann has a 52 week low of $26.95 and a 52 week high of $39.78. The stock has a 50-day moving average of $33.21 and a 200-day moving average of $31.23. The company has a market cap of $1.522 billion and a P/E ratio of 16.04.
Ann (NYSE:ANN) last announced its earnings results on Thursday, June 6th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.02. The company had revenue of $574.50 million for the quarter, compared to the consensus estimate of $581.99 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Ann will post $2.14 EPS for the current fiscal year.
ANN INC., through its wholly owned subsidiaries, is a specialty retailer of women’s apparel, shoes and accessories sold primarily under the Ann Taylor and LOFT brands.
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