Zacks Investment Research Downgrades Christopher & Banks (CBK) to Sell

Christopher & Banks (NYSE:CBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women’s clothing providing exclusive fashions under the Christopher & Banks and C.J. Banks labels. Currently, the Company operates 351 stores in 30 states, located primarily in the northern half of the United States. “

Shares of Christopher & Banks (NYSE:CBK) traded down $0.02 during trading on Thursday, hitting $1.16. The stock had a trading volume of 99,354 shares, compared to its average volume of 120,598. The firm has a market capitalization of $43.51, a price-to-earnings ratio of -1.41 and a beta of 3.38. Christopher & Banks has a twelve month low of $1.04 and a twelve month high of $1.62.

Christopher & Banks (NYSE:CBK) last announced its quarterly earnings data on Tuesday, November 28th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The business had revenue of $98.50 million during the quarter, compared to analyst estimates of $102.57 million. Christopher & Banks had a negative return on equity of 46.51% and a negative net margin of 8.48%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. research analysts expect that Christopher & Banks will post -0.63 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in CBK. JPMorgan Chase & Co. lifted its holdings in shares of Christopher & Banks by 14.9% during the second quarter. JPMorgan Chase & Co. now owns 77,314 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 10,000 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Christopher & Banks by 3.1% during the second quarter. Wells Fargo & Company MN now owns 1,863,460 shares of the specialty retailer’s stock valued at $2,501,000 after purchasing an additional 55,546 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Christopher & Banks by 1.5% during the second quarter. Northern Trust Corp now owns 106,505 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 1,619 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Christopher & Banks by 8.2% during the second quarter. Goldman Sachs Group Inc. now owns 85,073 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 6,474 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Christopher & Banks by 21.2% during the second quarter. Tower Research Capital LLC TRC now owns 78,888 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 13,797 shares during the last quarter. Institutional investors and hedge funds own 39.01% of the company’s stock.

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Christopher & Banks Company Profile

Christopher & Banks Corporation is a national specialty retailer featuring private-brand women’s apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women’s apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes.

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