Wedbush maintains Neutral rating for Regis Corp (RGS)

Wedbush has recommended in a research note maintaining a neutral position on Regis Corp (NASDAQ: RGS) in the face of slow same store sales, and a lower than expected earnings per share (EPS).

The EPS estimate by Wedbush for Regis Corp, who owns, operates, and franchises out hair and retail hair products, is being lowered from $1.49 to $1.40. They lowered their price target to $17.

Regis Corp is anticipating same store sales to improve over the next fiscal year, with the implementation of a new point of sale system, and the closure of of 175 underperforming stores.

"We await greater visibility of a pickup in customer visitation and same store sales trends," said Wedbush in a report, before becoming more bullish on the stock.