Sears Holdings has recently been downgraded by the analysts in the industry due to the low sales figures that the retail company has been generating for some time in the past few weeks
Sears Holdings has recently been downgraded by the analysts in the industry due to the low sales figures that the retail company has been generating for some time in the past few weeks. According to a report published by the analysts at Analysts.Ratings.Net, it was seen that the research note that was released turned out to be a little over to the bearish side, shifting its previous bullish view. The price target which has been given to the company by the analysts has come around to be $22.06.
On the other hand, Sears’s stock has been experiencing some highs and lows in the recent trading times as well, which has made this semi bearish rating of the analysts make sense to the investors. The company has a major shareholder named Bruce Berkowitz who is often seen to make major transactions of the company shares inwards and outwards, which helps the share value to either grow upwards or to fall. Recently, he was seen to again sell around 251,400 shares of the retail company in an important transaction that was detailed in a report submitted to the Securities Exchange Commission of the United States of America. All the massive transactions or any kind of trade that is done by major shareholders in the company is bound to be reported to the SEC in order to keep a track on how the firm is heading its business. This exchange of shares carried out by Berkowitz took place on October 1 and the total revenue he generated after the trade came around at $307,633.
Sears stock news disclose that, Sears business has also been given a rating of ‘strong sell’ by analysts at S&P with a price target which is bordering $30. As for the last session that was witnessed by the retail manufacturers, it was seen that the share price experienced a massive high by 2.43 percent which helped the stock go up to a value of $26.16 per share. The current market cap that the giant is trading on has come around to be $2.79 billion, whereas the movement at the stock for the past 50 days has shown signs of trading at a share price of $25.07 on an average whereas the stock has traded for $31.59 for 200 days as an average price. Analysts are also expecting the retail firm to be posting EPS as high as $10.29 for the whole current year by the end of the period.