Vince Holding Corp Sees Unusually-High Trading Volume Following Strong Earnings (VNCE)
Vince Holding Corp (NASDAQ:VNCE) saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings, AmericanBankingNews.com reports. Approximately 652,980 shares changed hands during mid-day trading, an increase of 205% from the previous session’s volume of 214,190 shares.The stock last traded at $31.49 and had previously closed at $27.73.
The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.03. The company had revenue of $53.50 million for the quarter, compared to the consensus estimate of $48.77 million. Vince Holding Corp’s revenue was up 32.4% compared to the same quarter last year.
A number of research firms have recently commented on VNCE. Analysts at KeyCorp upgraded shares of Vince Holding Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. They now have a $31.00 price target on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of Vince Holding Corp in a research note on Monday, April 28th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Vince Holding Corp in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $28.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Vince Holding Corp currently has an average rating of “Buy” and an average price target of $33.40.
The stock’s 50-day moving average is $26.64 and its 200-day moving average is $26.7. The company’s market cap is $1.171 billion.
Vince Holding Corp, formerly Apparel Holding Corp., is a diversified apparel company. The Company designs, manufactures, and markets a collection of fashion brands which include Vince, Rebecca Taylor, David Meister, Sag Harbor, My Michelle and XOXO, along with numerous private label businesses for retailers.
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