Cherokee (CHKE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Cherokee (NASDAQ:CHKE) from a hold rating to a sell rating in a report issued 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 brokerages have also recently commented on CHKE. ValuEngine upgraded shares of Cherokee from a hold rating to a buy rating in a research report on Tuesday, June 5th. Roth Capital set a $2.00 price target on shares of Cherokee and gave the company a buy rating in a research note on Sunday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $9.58.

Shares of NASDAQ:CHKE opened at $0.68 on Wednesday. Cherokee has a 52 week low of $0.62 and a 52 week high of $7.75. The company has a market capitalization of $10.61 million, a P/E ratio of -0.96 and a beta of 1.04.

Cherokee (NASDAQ:CHKE) last posted its quarterly earnings data on Thursday, June 14th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.11). The company had revenue of $5.40 million during the quarter, compared to analyst estimates of $5.22 million. Cherokee had a negative net margin of 148.80% and a negative return on equity of 21.36%. During the same quarter in the previous year, the business posted ($0.07) EPS. research analysts forecast that Cherokee will post -0.19 earnings per share for the current year.

A hedge fund recently raised its stake in Cherokee stock. First Wilshire Securities Management Inc. boosted its position in shares of Cherokee Inc (NASDAQ:CHKE) by 200.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the company’s stock after acquiring an additional 60,000 shares during the quarter. First Wilshire Securities Management Inc. owned 0.65% of Cherokee worth $171,000 at the end of the most recent reporting period. 59.92% of the stock is owned by hedge funds and other institutional investors.

About Cherokee

Cherokee Inc markets, manages, and licenses fashion and lifestyle brands for apparel, footwear, home products, and accessories worldwide. It owns or licenses Cherokee, Hi-Tec, Magnum, 50 Peaks, Interceptor, Hawk Signature, Tony Hawk, Liz Lange, Completely Me by Liz Lange, Flip Flop Shops, Everyday California, Carole Little, Sideout, Saint Tropez-West, Chorus Line, All That Jazz, Sideout Sport, and other brands.

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