Janney Montgomery Scott Downgrades New York & Co (NWY) to Neutral; Several Concerns Noted
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Price: $3.50 --0%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott downgraded New York & Co (NYSE: NWY) from Buy to Neutral. PT lowered from $5 to $4.
Analyst, Adrienne Tennant, said, "We are downgrading shares of NWY on the basis of: 1) growing macro concerns, particularly pressuring value-oriented retailers, 2) traffic weakness in the Missy sector thus far in the early fall season, and 3) spring product strength that we believe may not be transitioning as well into the early-fall season. As we review and reassess our opinions on stocks, we repeatedly question whether the main underlying tenet of our investment thesis is still intact...lowering our FY13 GAAP EPS estimate to $0.13 from $0.19 (versus the consensus of $0.13)."
For an analyst ratings summary and ratings history on New York & Co click here. For more ratings news on New York & Co click here.
Shares of New York & Co closed at $3.99 yesterday.
Analyst, Adrienne Tennant, said, "We are downgrading shares of NWY on the basis of: 1) growing macro concerns, particularly pressuring value-oriented retailers, 2) traffic weakness in the Missy sector thus far in the early fall season, and 3) spring product strength that we believe may not be transitioning as well into the early-fall season. As we review and reassess our opinions on stocks, we repeatedly question whether the main underlying tenet of our investment thesis is still intact...lowering our FY13 GAAP EPS estimate to $0.13 from $0.19 (versus the consensus of $0.13)."
For an analyst ratings summary and ratings history on New York & Co click here. For more ratings news on New York & Co click here.
Shares of New York & Co closed at $3.99 yesterday.
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