Ann Sees Unusually-High Trading Volume on Strong Earnings (ANN)
Ann (NYSE:ANN) shares saw an uptick in trading volume on Monday following a better than expected earnings announcement, American Banking & Market News reports. 1,133,158 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 907,034 shares.The stock last traded at $39.25 and had previously closed at $37.52.
The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.02. The company had revenue of $648.70 million for the quarter. During the same quarter last year, the company posted $0.76 earnings per share. Ann’s revenue was up 1.6% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Telsey Advisory Group cut their price target on shares of Ann from $46.00 to $41.00 in a research note on Monday. They now have a “not rated” rating on the stock. Separately, analysts at Bank of America cut their price target on shares of Ann from $48.00 to $45.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Ann from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $34.90 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Ann currently has an average rating of “Hold” and an average price target of $39.81.
The stock’s 50-day moving average is $37.82 and its 200-day moving average is $38.32. The company has a market cap of $1.811 billion and a P/E ratio of 20.23.
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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