Farfetch (NYSE:FTCH) Rating Lowered to Sell at Zacks Investment Research

Farfetch (NYSE:FTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Farfetch Limited provides retails apparel products. The Company operates an online platform which offers bags, coats, dresses, jackets, jewelry, swimwear, trouser, shoes, knitwear, suits, shorts, watches and accessories. Farfetch Limited is based in London, United Kingdom. “

Other analysts have also issued research reports about the stock. KeyCorp boosted their price target on shares of Farfetch from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, January 22nd. Credit Suisse Group boosted their price target on shares of Farfetch from $85.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 1st. Finally, Morgan Stanley boosted their price target on shares of Farfetch from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $52.43.

Shares of FTCH traded up $0.36 during trading hours on Tuesday, reaching $48.01. 3,272,710 shares of the stock traded hands, compared to its average volume of 7,482,563. The company has a current ratio of 2.07, a quick ratio of 1.83 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $52.07 and a 200 day simple moving average of $54.59. Farfetch has a 52 week low of $12.83 and a 52 week high of $73.87. The company has a market cap of $17.01 billion, a price-to-earnings ratio of -13.92 and a beta of 3.53.

Farfetch (NYSE:FTCH) last announced its quarterly earnings data on Thursday, February 25th. The company reported ($6.53) EPS for the quarter, missing the consensus estimate of ($0.38) by ($6.15). The company had revenue of $540.11 million during the quarter, compared to the consensus estimate of $507.10 million. Farfetch had a negative return on equity of 81.22% and a negative net margin of 77.29%. Analysts predict that Farfetch will post -1.6 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FTCH. First Trust Advisors LP bought a new stake in shares of Farfetch in the 1st quarter worth approximately $276,000. Sowell Financial Services LLC raised its holdings in Farfetch by 118.2% during the 4th quarter. Sowell Financial Services LLC now owns 960 shares of the company’s stock valued at $61,000 after buying an additional 520 shares during the last quarter. DNB Asset Management AS bought a new stake in Farfetch during the 4th quarter valued at $715,000. Sterling Investment Advisors Ltd. bought a new stake in Farfetch during the 4th quarter valued at $32,000. Finally, Pendal Group Limited raised its holdings in Farfetch by 7.6% in the 4th quarter. Pendal Group Limited now owns 14,346 shares of the company’s stock worth $915,000 after purchasing an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.

About Farfetch

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

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