DSW Inc. (DSW) Lowered to “Hold” at Zacks Investment Research
DSW Inc. (NYSE:DSW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “DSW is a specialty branded footwear retailer operating DSW stores and also supplies, under supply arrangements, to related retailers and to other non-related retailers in the United States. “
DSW has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price target on shares of DSW in a report on Thursday, September 28th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $21.00 price target on shares of DSW in a report on Thursday, August 24th. Deutsche Bank AG upgraded DSW from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, July 25th. B. Riley upgraded DSW from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $18.50 to $22.00 in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity set a $17.00 price objective on DSW and gave the stock a “hold” rating in a research note on Sunday, August 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. DSW has a consensus rating of “Hold” and a consensus price target of $21.61.
DSW (DSW) traded up $0.29 during midday trading on Friday, reaching $18.89. The company had a trading volume of 1,789,237 shares, compared to its average volume of 2,173,866. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.38 and a beta of 0.79.
DSW (NYSE:DSW) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $666.66 million. DSW had a return on equity of 12.12% and a net margin of 4.41%. DSW’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. analysts predict that DSW will post 1.48 earnings per share for the current year.
DSW announced that its board has initiated a share repurchase plan on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 33.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP William L. Jordan sold 2,666 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.03, for a total value of $53,399.98. Following the completion of the transaction, the executive vice president now directly owns 44,254 shares in the company, valued at $886,407.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William L. Jordan sold 4,600 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $19.01, for a total value of $87,446.00. Following the completion of the transaction, the executive vice president now owns 46,188 shares of the company’s stock, valued at $878,033.88. The disclosure for this sale can be found here. Insiders sold 127,891 shares of company stock valued at $2,559,458 over the last 90 days. Company insiders own 20.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. purchased a new position in DSW in the third quarter worth approximately $152,000. PNC Financial Services Group Inc. grew its position in DSW by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock worth $155,000 after acquiring an additional 283 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in DSW in the third quarter worth approximately $223,000. SG Americas Securities LLC purchased a new position in DSW in the second quarter worth approximately $196,000. Finally, Capstone Asset Management Co. purchased a new position in DSW in the second quarter worth approximately $210,000. Institutional investors own 85.81% of the company’s stock.
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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