Janney Montgomery Scott Maintains a 'Neutral' on Ann Inc. (ANN); Raising Estimates After In-line Q4
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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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Janney Montgomery Scott maintains a 'Neutral' on Ann Inc. (NYSE: ANN) price target raised from $23 to $29.
JMS analyst says, "ANN reported 4Q11 EPS of $0.10 (includes a $0.01 tax benefit) versus the Street at $0.09. These results are roughly in line with the company's already lowered expectations. Total comparable sales increased +5.3% for 4Q11, with the LOFT division posting a +10.5% comp and the Ann Taylor division (which is only about 21% of sales) posting a -1.1%."
"The company continues to manage inventory well, ending the quarter with total inventory per foot square down 1%. On the earnings call, management noted that inventories are clean entering 1Q12 with very low levels of carry-over inventory. We believe the LOFT division will continue its positive comp momentum in FY12, but the Ann Taylor division will likely remain a work-in-progress at the store level through the spring season...Our FY12 EPS goes to $1.99 from $1.89 (versus consensus at $1.90) and FY13 EPS goes to $2.22 from $2.15 (versus consensus at $2.28)."
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 $25.81 yesterday.
JMS analyst says, "ANN reported 4Q11 EPS of $0.10 (includes a $0.01 tax benefit) versus the Street at $0.09. These results are roughly in line with the company's already lowered expectations. Total comparable sales increased +5.3% for 4Q11, with the LOFT division posting a +10.5% comp and the Ann Taylor division (which is only about 21% of sales) posting a -1.1%."
"The company continues to manage inventory well, ending the quarter with total inventory per foot square down 1%. On the earnings call, management noted that inventories are clean entering 1Q12 with very low levels of carry-over inventory. We believe the LOFT division will continue its positive comp momentum in FY12, but the Ann Taylor division will likely remain a work-in-progress at the store level through the spring season...Our FY12 EPS goes to $1.99 from $1.89 (versus consensus at $1.90) and FY13 EPS goes to $2.22 from $2.15 (versus consensus at $2.28)."
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 $25.81 yesterday.
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