Goldman Sachs Downgrades AnnTaylor Stores (ANN) to Sell
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Price: $31.23 +0.87%
Rating Summary:
8 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
8 Buy, 10 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade ANN Now!
Goldman Sachs downgraded AnnTaylor Stores (NYSE: ANN) from Neutral to Sell with a price target of $23 (down from $25).
The firm notes margins are basically at peak and see this level of margin as potentially vulnerable over time.
Goldman also said ANN faces higher macro risk than most, nothing that in the past when sector trends have weakened ANN trends have slowed more than peers.
The firm said after several quarters of remaining exceptionally lean, ANN has seen some increase in inventory growth relative to sales growth.
For more ratings news on AnnTaylor Stores click here and for the rating history of AnnTaylor Stores click here.
Shares of AnnTaylor Stores closed at $26.33 yesterday, with a 52 week range of $19.00-$32.49.
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The firm notes margins are basically at peak and see this level of margin as potentially vulnerable over time.
Goldman also said ANN faces higher macro risk than most, nothing that in the past when sector trends have weakened ANN trends have slowed more than peers.
The firm said after several quarters of remaining exceptionally lean, ANN has seen some increase in inventory growth relative to sales growth.
For more ratings news on AnnTaylor Stores click here and for the rating history of AnnTaylor Stores click here.
Shares of AnnTaylor Stores closed at $26.33 yesterday, with a 52 week range of $19.00-$32.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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