Five Below (NASDAQ:FIVE) Hits New 1-Year High Following Analyst Upgrade

Five Below, Inc. (NASDAQ:FIVE - Get Free Report) shares hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $110.00 to $135.00. Morgan Stanley currently has an equal weight rating on the stock. Five Below traded as high as $137.30 and last traded at $128.02, with a volume of 6212717 shares traded. The stock had previously closed at $121.24.

Several other research analysts also recently commented on the stock. Citigroup lifted their target price on shares of Five Below from $121.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday. Telsey Advisory Group lifted their target price on shares of Five Below from $90.00 to $128.00 and gave the stock a "market perform" rating in a report on Wednesday. Wall Street Zen upgraded shares of Five Below from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. Guggenheim decreased their price target on shares of Five Below from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial raised their price target on shares of Five Below from $81.00 to $112.00 and gave the stock a "hold" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Five Below presently has an average rating of "Hold" and an average price target of $110.40.

Insider Activity

In other news, EVP Ronald James Masciantonio sold 584 shares of Five Below stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $78.04, for a total transaction of $45,575.36. Following the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $987,830.32. The trade was a 4.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Five Below

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIVE. Jennison Associates LLC acquired a new position in Five Below in the fourth quarter valued at about $17,755,000. Lecap Asset Management Ltd. acquired a new position in Five Below in the fourth quarter valued at about $2,234,000. Stephens Investment Management Group LLC boosted its position in Five Below by 39.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 618,372 shares of the specialty retailer's stock valued at $64,904,000 after buying an additional 175,131 shares in the last quarter. Savant Capital LLC acquired a new position in Five Below in the fourth quarter valued at about $1,094,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Five Below by 0.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 108,811 shares of the specialty retailer's stock valued at $10,781,000 after buying an additional 534 shares in the last quarter.

Five Below Stock Up 5.6%

The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.87. The stock's 50-day simple moving average is $86.32 and its 200 day simple moving average is $90.54.

Five Below (NASDAQ:FIVE - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The specialty retailer reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $970.53 million for the quarter, compared to analyst estimates of $966.29 million. Five Below had a net margin of 7.02% and a return on equity of 18.03%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, equities research analysts anticipate that Five Below, Inc. will post 4.93 earnings per share for the current year.

Five Below Company Profile

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.

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