NEW YORK (TheStreet) -- Shares of Ann Inc. (ANN) are down -1.46% to $41.26 a day after it was reported that the company may be for sale, but it's not clear how many suitors will come knocking, the New York Post reports.
Shares of the company jumped about 5% yesterday after Reuters said the company had hired JPMorgan Chase (JPM) to explore a potential sale.
Insiders say an auction would likely attract buyout funds, including TPG, Leonard Green & Partners, and possibly Golden Gate Capital, which earlier this year disclosed a 9.5% stake in Ann, calling the shares undervalued, the Post said.
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TheStreet Ratings team rates ANN INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANN INC (ANN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."