Duluth (DLTH) Downgraded to Sell at Zacks Investment Research
Duluth (NASDAQ:DLTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
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. “
Several other research firms have also issued reports on DLTH. Robert W. Baird reissued a “buy” rating and set a $26.00 price objective on shares of Duluth in a research note on Friday, November 10th. BMO Capital Markets lowered Duluth from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Raymond James Financial lowered shares of Duluth from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 23rd. FBR & Co reaffirmed a “buy” rating and issued a $26.00 price target on shares of Duluth in a report on Wednesday, September 6th. Finally, DA Davidson reiterated a “buy” rating and set a $25.00 price objective on shares of Duluth in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.43.
Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, December 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $83.70 million during the quarter, compared to analyst estimates of $84.01 million. Duluth had a net margin of 4.16% and a return on equity of 15.23%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. sell-side analysts forecast that Duluth will post 0.68 EPS for the current fiscal year.
In other Duluth news, SVP Allen L. Dittrich sold 15,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $18.86, for a total value of $282,900.00. Following the completion of the sale, the senior vice president now directly owns 211,221 shares of the company’s stock, valued at approximately $3,983,628.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William E. Ferry sold 28,400 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $18.88, for a total transaction of $536,192.00. Following the completion of the sale, the director now directly owns 2,032 shares of the company’s stock, valued at $38,364.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,200 shares of company stock valued at $2,282,090. 70.38% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN bought a new position in shares of Duluth during the 3rd quarter valued at about $6,275,000. JPMorgan Chase & Co. bought a new stake in shares of Duluth during the 3rd quarter worth $158,000. Oak Ridge Investments LLC bought a new stake in shares of Duluth during the 3rd quarter worth $3,548,000. Russell Investments Group Ltd. lifted its position in shares of Duluth by 10.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 494,003 shares of the company’s stock worth $10,024,000 after buying an additional 45,643 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its position in shares of Duluth by 61.7% during the 3rd quarter. Dupont Capital Management Corp now owns 24,840 shares of the company’s stock worth $504,000 after buying an additional 9,475 shares during the last quarter. Hedge funds and other institutional investors own 37.48% of the company’s stock.
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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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