Sign up USA
Proactive Investors - Run By Investors For Investors

Fidget spinner craze already priced in to Five Below shares, says KeyBanc Capital Markets

Fidget spinners are the latest craze sweeping across school playgrounds and beyond.
Fidget spinner craze already priced in to Five Below shares, says KeyBanc Capital Markets
All in a spin - fidget spinners are the latest toy craze

Shares in discount retail chain Five Below (NASDAQ:FIVE) dropped 4.6% as it received a downgrade from  KeyBanc Capital Markets, which said fidget spinner sales are on the wane.

Fidget spinners are the latest craze sweeping across school playgrounds and  beyond.

Aimed at keeping fingers busy and a de-stressing tool, they were originally for kids with autism.

"While fidget spinners are still contributing to sales at FIVE, our channel checks indicate sales have been decelerating in recent weeks, potentially at a pace not expected by the market," analyst Bradley Thomas penned in a note.

He reportedly  added that he believed the performance of the stock in the year so far has already priced in the enthusiasm for spinners, and lloks therefore to have run out of steam.

"As such, we believe the risk/reward for FIVE shares are more balanced over the next three to six months."

KeyBanc has lowered its stance on the firm to  'sector weight'  from 'overweight'.

Five Below shares have been one of the best performing in the retail sector this year - adding 28% in the year to date, but today they dropped 4.63% to $48.65.

Giles_55af4ddca6481.jpg


Register here to be notified of future FIVE Company articles
View full FIVE profile View Profile
Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use