Cherokee (CHKE) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research lowered shares of Cherokee (NASDAQ:CHKE) from a hold rating to a strong sell rating in a research note published on Monday morning.

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 firms have also issued reports on CHKE. ValuEngine upgraded Cherokee from a hold rating to a buy rating in a research note on Wednesday, December 6th. FBR & Co reiterated a buy rating and set a $8.00 target price on shares of Cherokee in a research note on Wednesday, September 6th. Roth Capital lowered their target price on Cherokee from $18.00 to $10.00 and set a buy rating on the stock in a research note on Monday, August 21st. Finally, B. Riley reiterated a buy rating on shares of Cherokee in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $7.19.

Shares of Cherokee (NASDAQ:CHKE) opened at $2.00 on Monday. Cherokee has a 52 week low of $1.66 and a 52 week high of $11.40.

Cherokee (NASDAQ:CHKE) last released its quarterly earnings data on Wednesday, December 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.12). The business had revenue of $11.04 million during the quarter, compared to the consensus estimate of $9.90 million. Cherokee had a negative net margin of 42.20% and a negative return on equity of 0.68%. Cherokee’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. sell-side analysts expect that Cherokee will post -0.1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in CHKE. Dimensional Fund Advisors LP increased its stake in shares of Cherokee by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 285,040 shares of the company’s stock worth $2,451,000 after purchasing an additional 10,531 shares during the period. Northpointe Capital LLC increased its stake in shares of Cherokee by 35.5% during the second quarter. Northpointe Capital LLC now owns 948,873 shares of the company’s stock worth $6,595,000 after purchasing an additional 248,514 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Cherokee by 3.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 64,827 shares of the company’s stock worth $451,000 after purchasing an additional 2,258 shares during the period. Marathon Capital Management bought a new position in shares of Cherokee during the second quarter worth approximately $287,000. Finally, Penn Capital Management Co. Inc. increased its stake in shares of Cherokee by 65.3% during the second quarter. Penn Capital Management Co. Inc. now owns 516,718 shares of the company’s stock worth $3,591,000 after purchasing an additional 204,146 shares during the period. Institutional investors own 61.46% of the company’s stock.

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About Cherokee

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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