Zacks Investment Research Lowers Barnes & Noble, Inc. (BKS) to Sell

Zacks Investment Research downgraded shares of Barnes & Noble, Inc. (NYSE:BKS) from a hold rating to a sell rating in a report released on Thursday.

According to Zacks, “Barnes & Noble, Inc. is engaged in the retail sale of trade books (generally hardcover and paperback consumer titles, excluding educational textbooks and specialized religious titles), mass market paperbacks (such as mystery, romance, science fiction and other popular fiction), children’s books, off-price bargain books and magazines. These collectively account for substantially all of the company’s bookstore sales. Bestsellers represent only a small portion of the Barnes & Noble store sales. “

Several other equities research analysts have also recently weighed in on the company. BidaskClub cut Barnes & Noble from a sell rating to a strong sell rating in a report on Friday, July 28th. ValuEngine cut Barnes & Noble from a buy rating to a hold rating in a report on Friday, June 2nd.

Barnes & Noble (BKS) opened at 7.15 on Thursday. Barnes & Noble has a 12 month low of $6.25 and a 12 month high of $13.20. The company has a market capitalization of $517.92 million, a P/E ratio of 24.07 and a beta of 2.38. The stock’s 50 day moving average price is $7.48 and its 200-day moving average price is $7.90.

Barnes & Noble (NYSE:BKS) last issued its earnings results on Thursday, September 7th. The specialty retailer reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $871.75 million. Barnes & Noble had a net margin of 0.67% and a return on equity of 4.48%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, equities research analysts predict that Barnes & Noble will post $0.50 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. raised its position in Barnes & Noble by 0.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,887 shares of the specialty retailer’s stock valued at $288,000 after purchasing an additional 190 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Barnes & Noble by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the specialty retailer’s stock valued at $208,000 after purchasing an additional 300 shares during the last quarter. Texas Permanent School Fund raised its position in Barnes & Noble by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 40,330 shares of the specialty retailer’s stock valued at $307,000 after purchasing an additional 337 shares during the last quarter. Arizona State Retirement System raised its position in Barnes & Noble by 1.4% during the 1st quarter. Arizona State Retirement System now owns 28,817 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 400 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Barnes & Noble by 3.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,955 shares of the specialty retailer’s stock valued at $194,000 after purchasing an additional 655 shares during the last quarter. 71.61% of the stock is owned by institutional investors and hedge funds.

Barnes & Noble Company Profile

Barnes & Noble, Inc is a bookseller. The Company is a content and commerce company, which provides access to trade books and other content across its multi-channel distribution platform. It operates in two segments: Barnes & Noble Retail (B&N Retail) and NOOK. The Company is engaged in the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other fiction), children’s books, eBooks and other digital content, textbooks and course-related materials, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys and games, music and movies direct to customers through its bookstores or on www.barnesandnoble.com.

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