Pacific Sunwear of California Given New $3.50 Price Target at Piper Jaffray Cos. (PSUN)
Analysts at Piper Jaffray Cos. dropped their price objective on shares of Pacific Sunwear of California (NASDAQ:PSUN) from $4.50 to $3.50 in a research report issued to clients and investors on Wednesday, Stock Ratings Network.com reports. Piper Jaffray Cos.’s price objective would indicate a potential upside of 27.74% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp reiterated a “hold” rating on shares of Pacific Sunwear of California in a research note to investors on Friday, August 30th. Separately, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Pacific Sunwear of California in a research note to investors on Friday, August 30th. They now have a $6.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Pacific Sunwear of California from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 27th. They now have a $4.20 price target on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Pacific Sunwear of California has a consensus rating of “Hold” and a consensus price target of $4.28.
Shares of Pacific Sunwear of California (NASDAQ:PSUN) traded down 8.67% during mid-day trading on Wednesday, hitting $2.74. The stock had a trading volume of 1,885,266 shares. Pacific Sunwear of California has a 1-year low of $1.36 and a 1-year high of $4.59. The stock has a 50-day moving average of $3.26 and a 200-day moving average of $3.2. The company’s market cap is $187.9 million.
Pacific Sunwear of California (NASDAQ:PSUN) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.02 EPS for the quarter. The company had revenue of $215.20 million for the quarter, compared to the consensus estimate of $215.74 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts expect that Pacific Sunwear of California will post $-0.27 EPS for the current fiscal year.
Pacific Sunwear of California, Inc (NASDAQ:PSUN) is a specialty retailer rooted in the action sports, fashion and music influences of the California lifestyle.
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