Christopher & Banks Co. Sets New 52-Week High After Strong Earnings (CBK)
Christopher & Banks Co. (NYSE:CBK) shares hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement, American Banking News.com reports. The company traded as high as $10.68 and last traded at $10.65, with a volume of 781,034 shares traded. The stock had previously closed at $9.59.
The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $0.05. The company had revenue of $106.60 million for the quarter, compared to the consensus estimate of $106.03 million. During the same quarter last year, the company posted ($0.01) earnings per share.
Separately, analysts at Zacks downgraded shares of Christopher & Banks Co. from an “outperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $10.50 price target on the stock.
The stock’s 50-day moving average is $9.26 and its 200-day moving average is $7.54. The company has a market cap of $388.7 million and a price-to-earnings ratio of 34.25.
Christopher & Banks Corporation is a retailer of women’s apparel, which operates retail stores through its wholly owned subsidiaries.
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