Duluth (DLTH) Sets New 52-Week High at $23.60

Duluth Holdings Inc (NASDAQ:DLTH) hit a new 52-week high during trading on Thursday . The company traded as high as $23.60 and last traded at $23.54, with a volume of 43126 shares trading hands. The stock had previously closed at $22.52.

A number of equities research analysts recently commented on DLTH shares. Robert W. Baird lowered their price objective on shares of Duluth from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 21st. Zacks Investment Research cut shares of Duluth from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 8th. BidaskClub lowered shares of Duluth from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. DA Davidson restated a “buy” rating on shares of Duluth in a report on Friday, June 1st. Finally, TheStreet upgraded shares of Duluth from a “d+” rating to a “c-” rating in a report on Wednesday, April 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.86.

The firm has a market cap of $661.52 million, a PE ratio of 35.30, a PEG ratio of 1.39 and a beta of -0.06. The company has a current ratio of 1.58, a quick ratio of 0.17 and a debt-to-equity ratio of 0.26.

Duluth (NASDAQ:DLTH) last released its earnings results on Tuesday, June 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. The company had revenue of $100.20 million for the quarter, compared to analyst estimates of $100.23 million. Duluth had a net margin of 4.57% and a return on equity of 15.77%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. analysts forecast that Duluth Holdings Inc will post 0.81 EPS for the current year.

In other news, SVP Allen L. Dittrich sold 6,000 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $17.45, for a total transaction of $104,700.00. Following the transaction, the senior vice president now directly owns 200,186 shares in the company, valued at approximately $3,493,245.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas George Folliard sold 2,032 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $20.42, for a total transaction of $41,493.44. Following the transaction, the director now owns 52,344 shares in the company, valued at $1,068,864.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,432 shares of company stock worth $1,149,525. 70.38% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of Duluth by 14.7% during the 4th quarter. Franklin Resources Inc. now owns 1,712,746 shares of the company’s stock worth $30,572,000 after acquiring an additional 219,671 shares during the period. Avenir Corp purchased a new position in shares of Duluth during the 4th quarter worth about $7,589,000. Thrivent Financial For Lutherans lifted its holdings in shares of Duluth by 4.6% during the 4th quarter. Thrivent Financial For Lutherans now owns 600,597 shares of the company’s stock worth $10,721,000 after acquiring an additional 26,190 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Duluth by 22.6% during the 4th quarter. Bank of New York Mellon Corp now owns 336,111 shares of the company’s stock worth $5,999,000 after acquiring an additional 61,930 shares during the period. Finally, Ironwood Investment Management LLC increased its position in Duluth by 34.0% during the 1st quarter. Ironwood Investment Management LLC now owns 51,242 shares of the company’s stock worth $960,000 after purchasing an additional 12,991 shares in the last quarter. Institutional investors and hedge funds own 44.67% of the company’s stock.

About Duluth

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.

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