Five Below Analysts Increase Their Forecasts After Q3 Results

Five Below, Inc. FIVE reported better-than-expected third-quarter earnings.

Five Below reported quarterly earnings of 26 cents per share which surpassed the analyst consensus estimate of 23 cents. The company reported quarterly sales of $736.40 million, exceeding the analyst expectations of $725.38 million.

Five Below said it estimates fourth-quarter net sales to be between $1.32 billion and $1.35 billion. The company also sees full-year net sales between $3.54 billion and $3.57 billion.

Five Below shares rose 2.2% to trade at $70.77 on Thursday.

These analysts made changes to their price targets on Five Below following earnings announcement.

• Wells Fargo increased the price target on Five Below from $205 to $215. Wells Fargo analyst George Kelly maintained an Overweight rating.
• Citigroup raised the price target on Five Below from $220 to $227. Citigroup analyst Paul Lejuez maintained a Buy rating on the stock.
• Telsey Advisory Group analyst Joseph Feldman, meanwhile, reiterated Five Below with an Outperform and maintained a $220 price target.

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