Duluth Holdings Inc. (NASDAQ:DLTH) Lifted to “Buy” at Zacks Investment Research
Duluth Holdings Inc. (NASDAQ:DLTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $22.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.46% from the company’s current price.
According to Zacks, “Duluth Holdings Inc. provides casual wear, workwear and accessories for men and women. The company markets its products under trademarks, trade names and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Buck Naked, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Company, Duluthflex, Fire Hose, Longtail T, No Polo Shirt and Wild Boar Mocs. Duluth Holdings Inc. is headquartered in Belleville, Wisconsin. “
A number of other research firms have also commented on DLTH. BMO Capital Markets set a $30.00 price target on Duluth Holdings and gave the stock a “buy” rating in a research report on Tuesday, June 6th. FBR & Co reissued an “outperform” rating and issued a $26.00 target price on shares of Duluth Holdings in a research report on Tuesday, July 11th. Wunderlich reissued a “buy” rating and issued a $36.00 target price on shares of Duluth Holdings in a research report on Friday, June 9th. Stifel Nicolaus decreased their price target on Duluth Holdings from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, June 7th. Finally, Robert W. Baird decreased their price target on Duluth Holdings from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, June 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.38.
Shares of Duluth Holdings (NASDAQ DLTH) traded down 1.13% during midday trading on Tuesday, hitting $19.22. 132,525 shares of the company were exchanged. The company’s 50 day moving average price is $18.43 and its 200 day moving average price is $20.34. Duluth Holdings has a one year low of $16.01 and a one year high of $38.19. The firm has a market cap of $623.77 million, a P/E ratio of 33.72 and a beta of 0.19.
Duluth Holdings (NASDAQ:DLTH) last posted its quarterly earnings results on Tuesday, June 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.04. The firm had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.94 million. Duluth Holdings had a net margin of 4.71% and a return on equity of 17.31%. Duluth Holdings’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. Equities analysts expect that Duluth Holdings will post $0.69 EPS for the current year.
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In related news, SVP Allen L. Dittrich sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $18.99, for a total transaction of $189,900.00. Following the transaction, the senior vice president now directly owns 241,221 shares of the company’s stock, valued at approximately $4,580,786.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William E. Ferry sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.18, for a total value of $230,160.00. Following the transaction, the director now directly owns 2,032 shares in the company, valued at $38,973.76. The disclosure for this sale can be found here. Insiders sold a total of 50,400 shares of company stock worth $957,672 in the last quarter. Corporate insiders own 70.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Duluth Holdings by 87.2% in the second quarter. Bank of New York Mellon Corp now owns 336,659 shares of the company’s stock valued at $6,130,000 after buying an additional 156,857 shares during the period. Denver Investment Advisors LLC raised its position in Duluth Holdings by 109.1% in the second quarter. Denver Investment Advisors LLC now owns 54,870 shares of the company’s stock valued at $999,000 after buying an additional 28,625 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Duluth Holdings during the second quarter valued at about $280,000. Rhumbline Advisers raised its position in Duluth Holdings by 9.2% in the second quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock valued at $192,000 after buying an additional 885 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Duluth Holdings by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 32,942 shares of the company’s stock valued at $600,000 after buying an additional 171 shares in the last quarter. 33.01% of the stock is currently owned by institutional investors and hedge funds.
About Duluth Holdings
Duluth Holdings Inc is a lifestyle brand of men’s and women’s casual wear, workwear and accessories. The Company offers a line of functional products, such as its Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company’s segments include direct and retail. The direct segment includes revenues from the Company’s Website and catalogs.
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