Trade Report: The New York & Co. (NWY) Rating Lowered to Sell at Zacks Investment Research

The New York & Co. (NWY) Rating Lowered to Sell at Zacks Investment Research

New York & Co. (NYSE:NWY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “New York & Company, Inc. is a leading specialty retailer of fashion-oriented, moderately-priced women’s apparel. The Company’s proprietary branded New York & Company merchandise is sold exclusively through its national network of retail stores. “

New York & Co. (NYSE:NWY) opened at 2.11 on Tuesday. The firm’s market cap is $133.90 million. The stock has a 50 day moving average of $2.27 and a 200-day moving average of $2.38. New York & Co. has a 52-week low of $1.34 and a 52-week high of $4.15.

New York & Co. (NYSE:NWY) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.01 EPS for the quarter. The business earned $232.80 million during the quarter, compared to analyst estimates of $226.92 million. New York & Co. had a negative net margin of 1.07% and a negative return on equity of 7.74%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, analysts expect that New York & Co. will post $0.02 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Coe Capital Management LLC raised its position in New York & Co. by 1,022.1% in the second quarter. Coe Capital Management LLC now owns 224,421 shares of the company’s stock valued at $334,000 after buying an additional 204,421 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of New York & Co. by 18.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,428,629 shares of the company’s stock worth $2,129,000 after buying an additional 226,556 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of New York & Co. by 178.7% in the second quarter. BlackRock Advisors LLC now owns 70,755 shares of the company’s stock worth $105,000 after buying an additional 45,366 shares in the last quarter. Vanguard Group Inc. raised its position in shares of New York & Co. by 15.6% in the second quarter. Vanguard Group Inc. now owns 879,474 shares of the company’s stock worth $1,310,000 after buying an additional 118,498 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of New York & Co. by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,549,318 shares of the company’s stock worth $3,798,000 after buying an additional 48,809 shares in the last quarter. Institutional investors and hedge funds own 36.37% of the company’s stock.

About New York & Co.

New York & Company, Inc is a specialty retailer of women’s fashion apparel and accessories. The Company’s branded New York & Company merchandise is sold through its national network of retail stores and online at www.nyandcompany.com. It operates approximately 490 stores, including over 80 outlet stores in over 40 states.

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