Five Below (NASDAQ:FIVE) Shares Gap Up on Strong Earnings

Shares of Five Below, Inc. (NASDAQ:FIVE) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $75.59, but opened at $80.10. Five Below shares last traded at $80.30, with a volume of 1,501,686 shares changing hands.

The specialty retailer reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.10. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Five Below had a net margin of 7.02% and a return on equity of 18.03%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.65 EPS.

Analyst Upgrades and Downgrades

FIVE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Five Below from $107.00 to $102.00 and set an “underweight” rating for the company in a report on Thursday, January 16th. StockNews.com lowered shares of Five Below from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Truist Financial lowered their price target on Five Below from $93.00 to $86.00 and set a “hold” rating for the company in a research report on Thursday. Telsey Advisory Group lowered their price target on Five Below from $115.00 to $85.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group raised their price target on Five Below from $106.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling

In other Five Below news, CAO Eric M. Specter sold 5,494 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $90.76, for a total value of $498,635.44. Following the completion of the sale, the chief accounting officer now directly owns 57,267 shares of the company’s stock, valued at $5,197,552.92. This trade represents a 8.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Institutional Trading of Five Below

A number of hedge funds and other institutional investors have recently modified their holdings of FIVE. Charles Schwab Investment Management Inc. increased its position in shares of Five Below by 41.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 614,288 shares of the specialty retailer’s stock worth $54,272,000 after purchasing an additional 180,902 shares during the last quarter. National Bank of Canada FI increased its position in shares of Five Below by 155.2% during the 3rd quarter. National Bank of Canada FI now owns 78,827 shares of the specialty retailer’s stock worth $6,964,000 after purchasing an additional 47,940 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Five Below during the 3rd quarter worth about $3,282,000. Algert Global LLC increased its position in shares of Five Below by 364.2% during the 3rd quarter. Algert Global LLC now owns 25,830 shares of the specialty retailer’s stock worth $2,282,000 after purchasing an additional 20,266 shares during the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new position in Five Below during the 3rd quarter valued at about $522,000.

Five Below Trading Up 0.7 %

The business has a fifty day moving average of $88.30 and a 200 day moving average of $92.51. The company has a market capitalization of $4.19 billion, a PE ratio of 15.69, a PEG ratio of 1.19 and a beta of 1.11.

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.