DSW Inc. (DSW) Cut to “Neutral” at B. Riley
DSW Inc. (NYSE:DSW) was downgraded by investment analysts at B. Riley from a “buy” rating to a “neutral” rating in a report released on Thursday. They currently have a $20.00 price objective on the stock, down from their previous price objective of $22.00. B. Riley’s target price would suggest a potential upside of 4.44% from the stock’s previous close.
A number of other analysts have also recently commented on DSW. Jefferies Group LLC set a $20.00 price target on DSW and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised DSW from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Thursday, September 28th. Citigroup Inc. boosted their price target on DSW from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 23rd. Wedbush cut DSW from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $20.00 in a research report on Wednesday. Finally, Buckingham Research set a $18.00 price target on DSW and gave the stock a “hold” rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.61.
DSW (NYSE:DSW) last issued its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. DSW had a return on equity of 12.12% and a net margin of 4.41%. The firm had revenue of $680.40 million for the quarter, compared to analysts’ expectations of $666.66 million. During the same period in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year.
DSW declared that its board has authorized a stock repurchase plan on Tuesday, August 22nd that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 33.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, EVP William L. Jordan sold 2,666 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $20.03, for a total transaction of $53,399.98. Following the transaction, the executive vice president now directly owns 44,254 shares of the company’s stock, valued at approximately $886,407.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William L. Jordan sold 10,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $21.32, for a total value of $213,200.00. Following the transaction, the executive vice president now directly owns 51,588 shares in the company, valued at $1,099,856.16. The disclosure for this sale can be found here. Insiders have sold a total of 127,891 shares of company stock worth $2,559,458 over the last three months. Insiders own 20.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of DSW during the 3rd quarter valued at $152,000. PNC Financial Services Group Inc. lifted its holdings in shares of DSW by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock valued at $155,000 after buying an additional 283 shares during the period. SG Americas Securities LLC bought a new position in shares of DSW during the 2nd quarter valued at $196,000. Capstone Asset Management Co. bought a new position in shares of DSW during the 2nd quarter valued at $210,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of DSW during the 3rd quarter valued at $223,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
DSW Company Profile
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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