Ryan, Beck Ups Opinion on Jos. A. Bank
Ryan, Beck hiked its investment recommendation on Jos. A. Bank Clothiers (JOSB ) to outperform on Thursday, citing the clothing retailer's recently posted sales results.
Analyst Margaret Whitfield said the company's August same-store sales results beat her 4% estimates, at the same time Jos. A. Bank Clothiers' stock price recently cheapened. The company will release its second quarter results on September 6, and had recently indicated it expects its second quarter earnings per share to increase by at least 38%. Those nubmers imply that the company would meet or exceed current Street estimates of 33 cent earnings per share. Given the company's lean inventories, Whitfield thinks its results could possibly exceed consensus estimates with higher gross margins than she's forecasting. She's keeping her price target at $47.