Cherokee Inc. (NASDAQ:CHKE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $5.25 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 26.20% from the stock’s previous close.

According to Zacks, “Cherokee Inc. is a marketer and licensor of Cherokee and Sideout brand products, is continuing its negotiations for domestic and international licensing contracts covering multiple categories of merchandise. Cherokee currently has licensing agreements in many categories, including family apparel and fashion accessories, as well as luggage, cosmetics and footwear. (PRESS RELEASE) “

A number of other analysts have also recently weighed in on CHKE. Roth Capital set a $18.00 price target on Cherokee and gave the company a “buy” rating in a research note on Saturday, April 8th. B. Riley restated a “neutral” rating and issued a $9.00 price target on shares of Cherokee in a research note on Friday, May 12th. ValuEngine upgraded Cherokee from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Finally, FBR & Co restated an “outperform” rating and issued a $8.00 price target on shares of Cherokee in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $11.65.

Shares of Cherokee (NASDAQ CHKE) traded down 10.54% on Tuesday, reaching $4.16. The company had a trading volume of 489,440 shares. Cherokee has a 52 week low of $4.10 and a 52 week high of $11.98. The company has a 50 day moving average of $8.18 and a 200-day moving average of $8.90. The company’s market capitalization is $53.88 million.

Cherokee (NASDAQ:CHKE) last posted its quarterly earnings results on Thursday, July 6th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.20. Cherokee had a negative net margin of 33.53% and a positive return on equity of 6.32%. The business had revenue of $6.80 million during the quarter, compared to analyst estimates of $9.25 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was down 36.4% on a year-over-year basis. Analysts predict that Cherokee will post $0.74 earnings per share for the current fiscal year.

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In other Cherokee news, major shareholder Strategic Opportunit Headlands purchased 91,780 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $8.50 per share, for a total transaction of $780,130.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.20% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Trellus Management Company LLC boosted its stake in Cherokee by 203.2% in the first quarter. Trellus Management Company LLC now owns 31,773 shares of the company’s stock worth $273,000 after buying an additional 21,293 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Cherokee during the first quarter worth approximately $538,000. Oxford Asset Management boosted its stake in Cherokee by 42.0% in the first quarter. Oxford Asset Management now owns 84,049 shares of the company’s stock worth $723,000 after buying an additional 24,866 shares during the period. Two Sigma Investments LP boosted its stake in Cherokee by 62.1% in the fourth quarter. Two Sigma Investments LP now owns 80,929 shares of the company’s stock worth $850,000 after buying an additional 30,992 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock worth $2,451,000 after buying an additional 10,531 shares during the period. Institutional investors and hedge funds own 80.07% of the company’s stock.

About Cherokee

Cherokee Inc is a marketer and manager of a portfolio of fashion and lifestyle brands it owns or represents, licensing the Cherokee, Liz Lange, Completely Me by Liz Lange, Hawk, Tony Hawk, Sideout, Carole Little, Everyday California , Flip Flop Shops and ale by alessandra brands and related brands in various consumer product categories and sectors.

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