The stock of Chico’s FAS, Inc. (NYSE:CHS) is now priced at $1.28 and the shares are -0.11 points down or -7.91% lower compared to its previous closing price of $1.39. The stock had 2.49 million contracts set over the past session. CHS shares’ daily volume is compared to its average trading volume at 2.631 million shares. However, it has a float of 110 million and although its performance was -3.76% over the week, it’s one to watch. Analysts have given the CHS stock a yearly average price target of $2 per share. It means the stock’s upside potential is 56.25% with the CHS share price recently placing at $1.28 to $1.41. However, some brokerage firms have priced the stock below the average, including one that has called $1.25.
The shorts are running away from the Chico’s FAS, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CHS shares have declined. Short interest in the stock represents just 8.22% of its float, but the volume has dropped by 0.
In the last trading session, Chico’s FAS, Inc. (NYSE:CHS) dropped by -$0.05 over the week and gained $0.05 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.14. The stock recorded its established 52-week high on 11/27/19.
Since 04/03/20, the stock has traded to a low of $0.9301 at 37.62%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.19. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Chico’s FAS, Inc.’s two-week RSI is 44.17. This suggests that the stock is neutral at the moment and that CHS shares’ price movement remains stable. The stochastic readings are equally revealing at 49.02% meaning the CHS share price is currently in neutral territory.
The technical chart shows that the CHS stock will likely settle at between $1.3667 and $1.4533 per share. However, if the stock dips below $1.2367, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.1933.
Currently, the stock is trading in the red of MACD, with a reading of -0.0289. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Telsey Advisory Group though raised target price of CHS stock from $3 to $5 but maintained Market Perform recommendation in their November 27 review. Telsey Advisory Group analysts see the stock as a Market Perform, but they also dropped the share’s target price from $4 to $3 in a flash note released to investors on August 29. Telsey Advisory Group analysts see the stock as Market Perform. Nonetheless, the analysts revised the share prices down on June 12, placing it at $4 from $5.
The average rating for the CHS equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Chico’s FAS, Inc. polled by Reuters, 3 rated CHS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Chico’s FAS, Inc. (NYSE:CHS) will decrease by about -99.87%, which will see them reach $408 million. The company’s full-year revenues are, however, expected to diminish by about -25%, down from $2040 million to $1530 million. CHS’s expected adjusted earnings should surge almost 75% to end up at -$0.07 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 8900% to record -$1.8/share.