Stage Stores, Inc. (NYSE:SSI) Upgraded to “Hold” by Zacks Investment Research
Stage Stores, Inc. (NYSE:SSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Stage Stores operates retail stores offering moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family in small towns and communities located primarily throughout the south central United States. “
Several other brokerages have also recently commented on SSI. Johnson Rice raised Stage Stores from a “hold” rating to an “accumulate” rating in a research report on Monday, April 3rd. B. Riley reaffirmed a “sell” rating and issued a $1.00 target price on shares of Stage Stores in a research report on Friday, May 19th. Finally, ValuEngine cut Stage Stores from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Stage Stores currently has an average rating of “Hold” and an average price target of $3.50.
Stage Stores (NYSE:SSI) traded up 0.263% during trading on Thursday, reaching $1.905. The company had a trading volume of 473,690 shares. The company has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.51. Stage Stores has a 52-week low of $1.72 and a 52-week high of $6.56. The stock’s market cap is $52.27 million.
Stage Stores (NYSE:SSI) last released its quarterly earnings data on Thursday, May 18th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.13. The business had revenue of $308.60 million during the quarter, compared to analyst estimates of $303.93 million. Stage Stores had a negative return on equity of 6.23% and a negative net margin of 2.92%. The company’s revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company posted ($0.56) EPS. On average, analysts anticipate that Stage Stores will post ($1.01) earnings per share for the current year.
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In other news, CEO Michael L. Glazer acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was acquired at an average cost of $1.95 per share, for a total transaction of $48,750.00. Following the completion of the acquisition, the chief executive officer now owns 1,087,938 shares in the company, valued at $2,121,479.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Glazer acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average price of $2.14 per share, with a total value of $42,800.00. Following the completion of the acquisition, the chief executive officer now owns 1,062,938 shares of the company’s stock, valued at approximately $2,274,687.32. The disclosure for this purchase can be found here. Company insiders own 7.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of Stage Stores by 44.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,100 shares of the company’s stock valued at $251,000 after buying an additional 1,575 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Stage Stores by 9.0% in the first quarter. TIAA CREF Investment Management LLC now owns 84,264 shares of the company’s stock valued at $218,000 after buying an additional 6,936 shares during the period. Dimensional Fund Advisors LP raised its position in Stage Stores by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,281,553 shares of the company’s stock valued at $5,909,000 after buying an additional 11,913 shares during the period. State Street Corp raised its position in Stage Stores by 2.8% in the fourth quarter. State Street Corp now owns 774,717 shares of the company’s stock valued at $3,380,000 after buying an additional 21,031 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Stage Stores by 16.8% in the first quarter. Parametric Portfolio Associates LLC now owns 258,830 shares of the company’s stock valued at $670,000 after buying an additional 37,308 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.
About Stage Stores
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business.
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