Janney Montgomery Scott Lifts Outlook on Ann Inc. (ANN); Strong Q2 Beat, But Looks Priced In
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Price: $31.33 +0.32%
Rating Summary:
8 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
8 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade ANN Now!
Janney Montgomery Scott maintains a 'Neutral' on Ann Inc. (NYSE: ANN) price target of $36.00 (from $30.00).
Analyst, Adrienne Tennant, noted the company's recent Q2 report which beat expectations ($0.63 vs. consensus of $0.51). Tennant commends ANN's management team for posting positive comps at Ann Taylor and Loft. On the conference call, mgmt noted that it's momentum is carrying forward and translating into a 'very strong' August (month-to-date).
Tennant also praises ANN for it's commitment to return value to shareholders (buyback of 1.6 million shares in Q2). The Janney analyst expects solid progress at ANN throughout 2012 and further improvement in the 2H. However, with today's 21%+ pop in the stock, Tennant suggests waiting for a better entry point as the good news is now reflected.
The firm raised FY12 EPS estimates from $2.02 to $2.21 (consensus is $2.05 currently) and FY13 from $2.31 to $2.55 (consensus is $2.38).
For an analyst ratings summary and ratings history on Ann Inc. click here. For more ratings news on Ann Inc. click here.
Shares of Ann Inc. closed at $28.14 yesterday, with a 52 week range of $19.00-$29.81.
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Analyst, Adrienne Tennant, noted the company's recent Q2 report which beat expectations ($0.63 vs. consensus of $0.51). Tennant commends ANN's management team for posting positive comps at Ann Taylor and Loft. On the conference call, mgmt noted that it's momentum is carrying forward and translating into a 'very strong' August (month-to-date).
Tennant also praises ANN for it's commitment to return value to shareholders (buyback of 1.6 million shares in Q2). The Janney analyst expects solid progress at ANN throughout 2012 and further improvement in the 2H. However, with today's 21%+ pop in the stock, Tennant suggests waiting for a better entry point as the good news is now reflected.
The firm raised FY12 EPS estimates from $2.02 to $2.21 (consensus is $2.05 currently) and FY13 from $2.31 to $2.55 (consensus is $2.38).
For an analyst ratings summary and ratings history on Ann Inc. click here. For more ratings news on Ann Inc. click here.
Shares of Ann Inc. closed at $28.14 yesterday, with a 52 week range of $19.00-$29.81.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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