Christopher & Banks (NYSE:CBK) Cut to Sell at Zacks Investment Research

Christopher & Banks (NYSE:CBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, September 12th.

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. “

Separately, ValuEngine upgraded shares of Christopher & Banks from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th.

Shares of CBK traded down $0.03 during mid-day trading on Wednesday, hitting $0.73. The company’s stock had a trading volume of 73,904 shares, compared to its average volume of 122,147. Christopher & Banks has a fifty-two week low of $0.66 and a fifty-two week high of $1.47. The stock has a market capitalization of $29.20 million, a P/E ratio of -1.25 and a beta of 3.10.

Christopher & Banks (NYSE:CBK) last announced its earnings results on Wednesday, September 5th. The specialty retailer reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Christopher & Banks had a negative return on equity of 45.54% and a negative net margin of 6.37%. The firm had revenue of $87.42 million during the quarter. During the same period last year, the firm posted ($0.21) EPS. On average, equities research analysts forecast that Christopher & Banks will post -0.61 earnings per share for the current fiscal year.

In related news, Director Jonathan Duskin purchased 26,900 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The stock was acquired at an average cost of $1.01 per share, for a total transaction of $27,169.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Retail Opportunity Fu Macellum purchased 63,613 shares of the firm’s stock in a transaction that occurred on Friday, July 13th. The shares were bought at an average price of $1.01 per share, with a total value of $64,249.13. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 218,643 shares of company stock valued at $222,761. 16.90% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Christopher & Banks stock. Ancora Advisors LLC purchased a new position in shares of Christopher & Banks Co. (NYSE:CBK) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 216,751 shares of the specialty retailer’s stock, valued at approximately $232,000. Ancora Advisors LLC owned 0.57% of Christopher & Banks as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 35.96% of the company’s stock.

Christopher & Banks Company Profile

Christopher & Banks Corporation, through its subsidiaries, operates as a specialty retailer of private-brand women's apparel and accessories in the United States. The company designs and sells women's apparel and accessories to customers ranging in age from 40 and older. Its stores offer women's apparel consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite, and women sizes, as well as jewelry and accessories.

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