GNC Holdings Inc (GNC) was Downgraded by Piper Jaffray to ” Neutral” while Lowering the Price Target of the company shares to $ 20 from a previous price target of $38 . Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Jul 28, 2016.
Many Wall Street Analysts have commented on GNC Holdings Inc. Piper Jaffray Initiated GNC Holdings Inc on May 10, 2016 to “Overweight”, Price Target of the shares are set at $38.GNC Holdings Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on May 5, 2016.
On the company’s financial health, GNC Holdings Inc reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.78. The company had revenue of $673.20 million for the quarter, compared to analysts expectations of $669.43 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.79 EPS.
GNC Holdings Inc closed down -6.95 points or -25.52% at $20.28 with 1,16,59,938 shares getting traded on Thursday. Post opening the session at $26.39, the shares hit an intraday low of $20.08 and an intraday high of $26.58 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Nov 6, 2015, Tricia K. Tolivar (CFO) purchased 760 shares at $33.07 per share price.
GNC Holdings Inc. (GNC) is a specialty retailer of health and wellness products including vitamins minerals and herbal supplement products (VMHS) sports nutrition products and diet products. Its product mix is sold under its GNC brands including Mega Men Ultra Mega Total Lean Pro Performance and Pro Performance AMP and Beyond Raw and under third-party brands. It operates in three segments: Retail Franchise and Manufacturing/Wholesale. The Company’s retail generates revenues from sales of products to customers at Company-owned stores in the United States Canada and Puerto Rico and through its Websites GNC.com LuckyVitamin.com and DiscountSupplements.com. Franchise consists of its domestic and international franchise operations and generates revenues from franchise activities through product sales to franchisees royalties on franchise retail sales and franchise fees. Manufacturing/Wholesale comprises manufacturing operations in South Carolina and its wholesale sales business.