Shares of Ann, Inc (ANN) Move Into Positive Territory Despite Downgrade

FREE Breaking News Alerts from StreetInsider.com!

ANN Hot Sheet

Rating Summary:
9 Buy, 4 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
Up: 0 | Down: 0 | New: 1

Shares of Ann, Inc (NYSE: ANN) opened down $0.46 this morning after Barclays downgraded the stock two notches from Overweight to Underweight. Barclays also chopped its price target from $31 to $19. However, the shares are resilient and now trading at $23.03, up $0.10 (+0.44%).

Last Thursday (Feb 2), the company reported total sales for Q4 were $566 million. Same-store sales rose 5 percent. Sees FY sales of $2.212 billion. (FY12 rev consensus is $2.22 bln). The company also announces Christine Beauchamp, Brand President of the AnnTaylor division, had left.

After the above news, Piper Jaffray downgraded the stock to Underweight, then the next day (Friday, Feb 3), cut its price target and forward estimates, but maintained a 'Buy' rating.

Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!