DSW (DSW) Upgraded to Hold at Zacks Investment Research
DSW (NYSE:DSW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “DSW Inc. is a leading branded footwear and accessories retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear and accessories for women, men and kids. DSW operates 514 stores in 43 states, the District of Columbia and Puerto Rico, and operates an e-commerce site, http://www.dsw.com, and a mobile website, http://m.dsw.com. DSW also supplies footwear to 351 leased locations in the United States under the Affiliated Business Group. DSW also owns Ebuys, Inc., a leading off price footwear and accessories retailer operating in digital marketplaces in North America, Europe, Australia and Asia. The company also owns private-label footwear brands including Audrey Brooke, Kelly & Katie, Lulu Townsend, and Poppie Jones. “
DSW has been the topic of several other research reports. UBS upgraded shares of DSW from a “neutral” rating to a “positive” rating in a report on Thursday, November 16th. Deutsche Bank reiterated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of DSW in a report on Wednesday, August 23rd. Standpoint Research downgraded shares of DSW from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. B. Riley reiterated a “buy” rating and issued a $22.00 target price on shares of DSW in a report on Monday, August 28th. Finally, Wedbush downgraded shares of DSW from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $20.00 in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.58.
DSW (NYSE:DSW) last announced its earnings results on Tuesday, November 21st. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.08). The firm had revenue of $708.30 million during the quarter, compared to the consensus estimate of $710.24 million. DSW had a return on equity of 11.43% and a net margin of 3.13%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. research analysts predict that DSW will post 1.42 EPS for the current year.
DSW declared that its board has initiated a stock repurchase program on Tuesday, August 22nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 33.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In related news, EVP William L. Jordan sold 15,100 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $19.00, for a total value of $286,900.00. Following the sale, the executive vice president now owns 56,688 shares of the company’s stock, valued at $1,077,072. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Deborah L. Ferree sold 10,073 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $21.53, for a total transaction of $216,871.69. Following the completion of the sale, the chairman now directly owns 113,920 shares in the company, valued at approximately $2,452,697.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,173 shares of company stock worth $716,972. Insiders own 20.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new stake in DSW in the second quarter valued at about $258,000. Marshall Wace North America L.P. increased its stake in DSW by 822.3% in the second quarter. Marshall Wace North America L.P. now owns 240,812 shares of the company’s stock valued at $4,335,000 after acquiring an additional 214,702 shares during the period. MIG Capital LLC increased its stake in DSW by 12.6% in the second quarter. MIG Capital LLC now owns 1,960,000 shares of the company’s stock valued at $34,692,000 after acquiring an additional 218,792 shares during the period. FMR LLC increased its stake in DSW by 9.3% in the second quarter. FMR LLC now owns 6,291,973 shares of the company’s stock valued at $111,368,000 after acquiring an additional 533,713 shares during the period. Finally, Vanguard Group Inc. increased its stake in DSW by 5.1% in the second quarter. Vanguard Group Inc. now owns 6,081,533 shares of the company’s stock valued at $107,644,000 after acquiring an additional 297,463 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.
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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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