Kirkland's (KIRK) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Kirkland's (NASDAQ:KIRK) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Kirkland's, which has been reporting a loss for quite some time now, has lagged the industry in the past year. The company has been grappling with high operating costs and soft traffic, which was also witnessed in third-quarter fiscal 2017. Kirkland’s third-quarter loss widened year over year and was worse than the consensus mark. Results were hurt by supply chain disruptions, impact from hurricanes, higher store labor and outbound freight costs. These factors, along with expectations of a higher tax rate also led to a tweaked earnings view. Nonetheless, the company continued with its solid sales trend, courtesy of contributions from new stores, focus on merchandise enhancements and a 40% surge in e-commerce sales. Solid conversions also helped Kirkland’s offset weak traffic, leading to comps growth. Notably, the company began the fourth quarter on a solid note, with its holiday season assortments and marketing efforts in place.”

KIRK has been the subject of several other research reports. B. Riley reiterated a buy rating and issued a $14.50 price objective on shares of Kirkland's in a research note on Wednesday, November 22nd. KeyCorp reiterated a buy rating and issued a $14.00 price objective on shares of Kirkland's in a research note on Friday, November 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Kirkland's currently has a consensus rating of Buy and an average price target of $12.50.

Kirkland's (KIRK) traded down $0.06 during mid-day trading on Monday, hitting $11.74. 105,900 shares of the stock traded hands, compared to its average volume of 118,900. Kirkland's has a one year low of $8.17 and a one year high of $14.75. The firm has a market cap of $192.57, a PE ratio of 27.95 and a beta of 1.26.

Kirkland's (NASDAQ:KIRK) last announced its quarterly earnings data on Tuesday, November 21st. The specialty retailer reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Kirkland's had a net margin of 1.14% and a return on equity of 5.93%. The company had revenue of $144.98 million during the quarter, compared to analyst estimates of $142.31 million. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts predict that Kirkland's will post 0.49 earnings per share for the current year.

In other Kirkland's news, Director Gregory A. Sandfort bought 7,639 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was bought at an average price of $13.12 per share, for a total transaction of $100,223.68. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $26,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Kirkland's by 15.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,202,584 shares of the specialty retailer’s stock worth $12,362,000 after buying an additional 161,600 shares in the last quarter. AlphaOne Investment Services LLC grew its holdings in shares of Kirkland's by 63.1% during the second quarter. AlphaOne Investment Services LLC now owns 322,164 shares of the specialty retailer’s stock worth $3,310,000 after buying an additional 124,661 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Kirkland's by 142.8% during the second quarter. Ameriprise Financial Inc. now owns 186,166 shares of the specialty retailer’s stock worth $1,913,000 after buying an additional 109,492 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Kirkland's during the third quarter worth about $802,000. Finally, Shell Asset Management Co. purchased a new stake in shares of Kirkland's during the third quarter worth about $930,000. Institutional investors own 93.91% of the company’s stock.

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About Kirkland's

Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.

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