B. Riley Reaffirms “Sell” Rating for Stage Stores, Inc. (SSI)
Stage Stores, Inc. (NYSE:SSI)‘s stock had its “sell” rating reaffirmed by investment analysts at B. Riley in a research report issued on Friday. They presently have a $1.00 price target on the stock. B. Riley’s price target would indicate a potential downside of 47.37% from the company’s previous close.
Several other brokerages also recently weighed in on SSI. Zacks Investment Research upgraded shares of Stage Stores from a “sell” rating to a “hold” rating in a research report on Thursday, May 4th. Johnson Rice cut shares of Stage Stores from an “accumulate” rating to a “hold” rating in a research note on Friday, May 12th. Finally, ValuEngine cut shares of Stage Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.
Shares of Stage Stores (SSI) opened at 1.90 on Friday. Stage Stores has a one year low of $1.45 and a one year high of $6.33. The stock’s market capitalization is $52.14 million. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $2.29.
Stage Stores (NYSE:SSI) last issued its quarterly earnings data on Thursday, August 17th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. The firm had revenue of $377.10 million during the quarter, compared to the consensus estimate of $374.78 million. Stage Stores had a negative net margin of 2.92% and a negative return on equity of 6.23%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities analysts predict that Stage Stores will post ($1.01) earnings per share for the current fiscal year.
In other Stage Stores news, CEO Michael L. Glazer acquired 25,000 shares of the stock in a transaction dated Friday, July 7th. The shares were bought at an average price of $1.95 per share, with a total value of $48,750.00. Following the purchase, the chief executive officer now directly owns 1,087,938 shares of the company’s stock, valued at approximately $2,121,479.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Glazer acquired 20,000 shares of the stock in a transaction dated Wednesday, June 28th. The stock was acquired at an average cost of $2.14 per share, for a total transaction of $42,800.00. Following the purchase, the chief executive officer now directly owns 1,062,938 shares in the company, valued at $2,274,687.32. The disclosure for this purchase can be found here. 7.40% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its position 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. Arizona State Retirement System increased its position in Stage Stores by 2.0% in the first quarter. Arizona State Retirement System now owns 15,631 shares of the company’s stock valued at $126,000 after buying an additional 300 shares during the period. Chubb Ltd. purchased a new position in Stage Stores during the first quarter valued at $133,000. Stifel Financial Corp increased its position in Stage Stores by 11.1% in the second quarter. Stifel Financial Corp now owns 21,210 shares of the company’s stock valued at $104,000 after buying an additional 2,125 shares during the period. Finally, Quantitative Investment Management LLC increased its position in Stage Stores by 4.4% in the second quarter. Quantitative Investment Management LLC now owns 28,200 shares of the company’s stock valued at $137,000 after buying an additional 1,200 shares during the period. 68.60% of the stock is currently owned by institutional investors.
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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