Cherokee Inc. (NASDAQ:CHKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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) “

Several other research analysts have also weighed in on CHKE. Roth Capital set a $18.00 price objective on Cherokee and gave the stock a “buy” rating in a research report on Saturday, May 13th. B. Riley reissued a “neutral” rating and issued a $9.00 price objective on shares of Cherokee in a research report on Wednesday, May 17th. FBR & Co reissued an “outperform” rating and issued a $8.00 price objective on shares of Cherokee in a research report on Tuesday, July 11th. Finally, ValuEngine raised Cherokee from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Cherokee has a consensus rating of “Buy” and an average target price of $10.05.

Shares of Cherokee (NASDAQ CHKE) traded down 3.66% during midday trading on Wednesday, reaching $3.95. The company had a trading volume of 59,124 shares. The firm’s market cap is $51.36 million. The company’s 50-day moving average is $5.10 and its 200-day moving average is $7.53. Cherokee has a 52-week low of $3.90 and a 52-week high of $11.98.

Cherokee (NASDAQ:CHKE) last posted its quarterly earnings data on Thursday, July 6th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.20. Cherokee had a positive return on equity of 6.32% and a negative net margin of 33.53%. The business had revenue of $6.80 million during the quarter, compared to the consensus estimate of $9.25 million. During the same period last year, the business posted $0.34 earnings per share. The business’s revenue was down 36.4% on a year-over-year basis. Equities research analysts expect that Cherokee will post $0.55 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Cherokee by 1.7% in the second quarter. Northern Trust Corp now owns 30,839 shares of the company’s stock valued at $215,000 after buying an additional 504 shares in the last quarter. Martin & Co. Inc. TN increased its stake in shares of Cherokee by 1.3% in the second quarter. Martin & Co. Inc. TN now owns 60,355 shares of the company’s stock valued at $419,000 after buying an additional 800 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Cherokee by 3.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock valued at $451,000 after buying an additional 2,258 shares in the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of Cherokee by 2.5% in the second quarter. Punch & Associates Investment Management Inc. now owns 314,050 shares of the company’s stock valued at $2,183,000 after buying an additional 7,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cherokee by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock valued at $2,451,000 after buying an additional 10,531 shares in the last quarter. Institutional investors own 81.88% of the company’s stock.

Cherokee Company Profile

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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