Barclays Reiterates an 'Overweight' on AnnTaylor Stores (ANN); Raising Estimates
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Price: $44.89 --0%
Rating Summary:
4 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on AnnTaylor Stores (NYSE: ANN) price target of $36.00.
Barclays analyst says, "ANN expects the Q3 gross margin to be slightly higher than the 57.2% achieved last year and called for $275 million in SG&A reflecting the accelerated factory outlet expansion and increased investment in marketing and increases in variable store operating costs to support top-line growth. Q4 SG&A is expected to be up less as ANN anniversaries the 24 new store openings in the back half of last year. As a result of the higher than anticipated SG&A, we are lowering our 3Q EPS estimate to $0.59 from $0.60, but we are raising 4Q to $0.37 from $0.28, 2011 to $1.94 from $1.86 and 2012 to $2.40 from $2.30 on the strong sales and margin trends."
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 $21.70 yesterday.
Barclays analyst says, "ANN expects the Q3 gross margin to be slightly higher than the 57.2% achieved last year and called for $275 million in SG&A reflecting the accelerated factory outlet expansion and increased investment in marketing and increases in variable store operating costs to support top-line growth. Q4 SG&A is expected to be up less as ANN anniversaries the 24 new store openings in the back half of last year. As a result of the higher than anticipated SG&A, we are lowering our 3Q EPS estimate to $0.59 from $0.60, but we are raising 4Q to $0.37 from $0.28, 2011 to $1.94 from $1.86 and 2012 to $2.40 from $2.30 on the strong sales and margin trends."
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 $21.70 yesterday.
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