Bank of America Boosts Five Below (NASDAQ:FIVE) Price Target to $98.00

Five Below (NASDAQ:FIVE) had its price objective hoisted by Bank of America from $87.00 to $98.00 in a research note released on Thursday morning, Benzinga reports. Bank of America currently has a neutral rating on the specialty retailer’s stock.

A number of other analysts have also recently weighed in on the company. Morgan Stanley cut Five Below from an overweight rating to an equal weight rating and dropped their price target for the stock from $160.00 to $100.00 in a research report on Wednesday, July 17th. Guggenheim reduced their target price on shares of Five Below from $165.00 to $125.00 and set a buy rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. lowered Five Below from a neutral rating to an underweight rating and increased their price target for the company from $89.00 to $95.00 in a research report on Thursday, September 19th. StockNews.com cut shares of Five Below from a hold rating to a sell rating in a research report on Saturday, June 8th. Finally, KeyCorp reduced their target price on Five Below from $115.00 to $106.00 and set an overweight rating for the company in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Five Below presently has an average rating of Hold and a consensus target price of $110.00.

Five Below Stock Down 2.5 %

Shares of FIVE opened at $92.59 on Thursday. The business’s 50 day moving average is $80.06 and its two-hundred day moving average is $117.81. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.06 and a beta of 1.21. Five Below has a 52-week low of $64.87 and a 52-week high of $216.18.

Five Below (NASDAQ:FIVE) last announced its quarterly earnings data on Wednesday, August 28th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Five Below had a return on equity of 18.16% and a net margin of 7.57%. The firm had revenue of $830.07 million for the quarter, compared to analysts’ expectations of $821.95 million. On average, equities analysts expect that Five Below will post 4.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Five Below in the second quarter valued at about $111,000. Sanctuary Advisors LLC acquired a new position in shares of Five Below during the 2nd quarter worth $1,291,000. Brown Financial Advisors bought a new position in Five Below in the second quarter valued at about $222,000. Point72 Asset Management L.P. raised its stake in Five Below by 556.2% during the second quarter. Point72 Asset Management L.P. now owns 908,425 shares of the specialty retailer’s stock worth $98,991,000 after acquiring an additional 769,980 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in shares of Five Below by 53.7% in the second quarter. Ascent Group LLC now owns 23,068 shares of the specialty retailer’s stock worth $2,514,000 after acquiring an additional 8,062 shares during the last quarter.

About Five Below

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.