New York & Company (NWY) was Downgraded by Wunderlich to ” Hold” while Lowering the Price Target of the company shares to $ 2.25 from a previous price target of $3.50 . Earlier the firm had a rating of “Buy ” on the company shares. Wunderlich advised their investors in a research report released on May 20, 2016.
On the company’s financial health, New York & Company reported $-0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on May 19, 2016. Analyst had a consensus of $0.04. The company had revenue of $216.04 million for the quarter, compared to analysts expectations of $224.29 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.
New York & Company opened for trading at $2.9 and hit $2.96 on the upside on Thursday, eventually ending the session at $2.95, with a gain of 1.72% or 0.05 points. The heightened volatility saw the trading volume jump to 1,26,813 shares. Company has a market cap of $191 M.
In a different news, on Sep 29, 2015, Kevin Finnegan (EVP, Global Sales) sold 21,120 shares at $2.45 per share price. According to the SEC, on Apr 2, 2015, Gregory J Scott (CEO) purchased 10,000 shares at $2.52 per share price. On Apr 2, 2015, John M Worthington (COO) purchased 12,500 shares at $2.52 per share price, according to the Form-4 filing with the securities and exchange commission.
New York & Company Inc. is a specialty retailer of women’s fashion apparel and accessories and the wear-to-work destination for women. The Company’s branded New York & Company merchandise is sold through its national network of retail stores and online at www.nyandcompany.com. The focus customers for the Company’s merchandise are women between the ages of 25 and 45. The Company operates approximately 504 stores in 43 states with an average of approximately 5153 selling square feet per store. The Company offers a merchandise assortment consisting of wear-to-work casual apparel and accessories including pants dresses jackets knit tops blouses sweaters denim t-shirts activewear handbags and jewelry. It operates approximately 62 outlet stores.