Wells Fargo & Company Upgrades Five Below (NASDAQ:FIVE) to “Overweight”

Five Below (NASDAQ:FIVE) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The firm currently has a $180.00 price target on the specialty retailer’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 19.94% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley reduced their target price on shares of Five Below from $225.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Mizuho assumed coverage on shares of Five Below in a report on Tuesday, March 19th. They issued a “buy” rating and a $225.00 target price for the company. Gordon Haskett lowered shares of Five Below from a “buy” rating to an “accumulate” rating and reduced their target price for the stock from $210.00 to $200.00 in a report on Wednesday, April 3rd. Craig Hallum cut their price objective on shares of Five Below from $195.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, March 21st. Finally, UBS Group cut their price objective on shares of Five Below from $270.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.33.

Five Below Stock Performance

FIVE opened at $150.08 on Thursday. The stock has a market capitalization of $8.29 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.19 and a beta of 1.19. The company’s 50-day simple moving average is $181.17 and its two-hundred day simple moving average is $185.29. Five Below has a 52-week low of $144.57 and a 52-week high of $216.18.

Five Below (NASDAQ:FIVE) last issued its quarterly earnings data on Wednesday, March 20th. The specialty retailer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($0.13). Five Below had a return on equity of 20.80% and a net margin of 8.46%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $3.07 EPS. Five Below’s revenue for the quarter was up 19.1% on a year-over-year basis. Research analysts forecast that Five Below will post 6.05 EPS for the current fiscal year.

Institutional Trading of Five Below

Institutional investors have recently modified their holdings of the stock. Giverny Capital Inc. lifted its stake in shares of Five Below by 1.7% in the third quarter. Giverny Capital Inc. now owns 644,566 shares of the specialty retailer’s stock worth $103,711,000 after buying an additional 10,845 shares in the last quarter. Desjardins Global Asset Management Inc. purchased a new position in Five Below during the fourth quarter worth about $2,783,000. Trust Point Inc. purchased a new position in Five Below during the fourth quarter worth about $2,129,000. DekaBank Deutsche Girozentrale purchased a new position in Five Below during the fourth quarter worth about $3,222,000. Finally, Invesco Ltd. raised its stake in Five Below by 119.1% during the third quarter. Invesco Ltd. now owns 294,075 shares of the specialty retailer’s stock worth $47,317,000 after purchasing an additional 159,844 shares during the period.

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.