Zacks Investment Research Downgrades New York & Co. (NWY) to Sell
New York & Co. (NYSE:NWY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “New York & Company, Inc. is a leading specialty retailer of fashion-oriented, moderately-priced women’s apparel. The Company’s proprietary branded New York & Company merchandise is sold exclusively through its national network of retail stores. “
New York & Co. (NYSE:NWY) last released its earnings results on Thursday, August 18th. The company reported $0.01 EPS for the quarter. The company earned $232.80 million during the quarter, compared to analysts’ expectations of $226.92 million. New York & Co. had a negative return on equity of 7.74% and a negative net margin of 1.07%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS.
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Several hedge funds and other institutional investors have recently bought and sold shares of NWY. A.R.T. Advisors LLC acquired a new position in New York & Co. during the second quarter valued at $103,000. BlackRock Advisors LLC raised its position in New York & Co. by 178.7% in the second quarter. BlackRock Advisors LLC now owns 70,755 shares of the company’s stock valued at $105,000 after buying an additional 45,366 shares in the last quarter. Bank of New York Mellon Corp raised its position in New York & Co. by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 108,884 shares of the company’s stock valued at $162,000 after buying an additional 1,484 shares in the last quarter. Alambic Investment Management L.P. raised its position in New York & Co. by 265.0% in the second quarter. Alambic Investment Management L.P. now owns 119,523 shares of the company’s stock valued at $178,000 after buying an additional 86,774 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in New York & Co. by 43.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 65,002 shares of the company’s stock valued at $257,000 after buying an additional 19,660 shares in the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.
About New York & Co.
New York & Company, Inc is a specialty retailer of women’s fashion apparel and accessories. The Company’s branded New York & Company merchandise is sold through its national network of retail stores and online at www.nyandcompany.com. It operates approximately 490 stores, including over 80 outlet stores in over 40 states.
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