Kohl's Stock Sinks on Analyst Downgrade

The equity is down more than 35% in 2022

Deputy Editor
Aug 4, 2022 at 9:23 AM
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Kohl's Corporation (NYSE:KSS) is falling ahead of the bell, last seen 2.3% lower to trade at $30.38, following a bear note from Cowen. The firm downgraded KSS to "market perform" form "outperform" and slashed its price target by $25 to $35, citing inflationary pressures on the retailer's core middle income consumer.

Coming into today, the majority of analysts were already bearish; however, there's room for additional brokerages to follow Cowen's lead. Digging deeper, four of 10 still recommend a "strong buy" rating, while the 12-month consensus price target of $31.45 is a slim 1.1% premium to last night's close.

It's also worth noting that options traders have been much more bullish than usual in the last two weeks. Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), KSS sports a 10-day call/put volume ratio of 7.84, which stands higher than 96% of readings from the past year. 

Amid ongoing takeover talks, Kohl's stock has had a tumultuous run on the charts. An early July bear gap pushed the shares below the $30 level, with a further pullback to roughly two-year lows being saved at the $26 mark. Year-to-date, KSS is down 37%.

 

 

 

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