Zacks Investment Research Lowers Duluth (NASDAQ:DLTH) to Sell

Zacks Investment Research lowered shares of Duluth (NASDAQ:DLTH) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

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. “

A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of Ollie’s Bargain Outlet from a buy rating to a hold rating in a research note on Sunday, June 16th. TheStreet upgraded shares of Viacom from a c+ rating to a b- rating in a research note on Wednesday, April 24th. Robert W. Baird upgraded shares of Duluth from a neutral rating to an outperform rating and set a $22.00 target price on the stock in a research note on Tuesday, May 7th. DA Davidson cut their target price on shares of Broadcom to $300.00 and set a buy rating on the stock in a research note on Friday, June 14th. Finally, William Blair lowered shares of Duluth from an outperform rating to a market perform rating and set a $18.90 target price on the stock. in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Duluth currently has an average rating of Hold and a consensus price target of $24.58.

Shares of NASDAQ:DLTH opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.01 and a quick ratio of 0.35. The stock has a market capitalization of $400.47 million, a price-to-earnings ratio of 26.75, a PEG ratio of 0.76 and a beta of 0.19. The stock’s 50-day simple moving average is $14.44. Duluth has a 1 year low of $12.49 and a 1 year high of $35.67.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.01). The business had revenue of $114.24 million for the quarter, compared to analysts’ expectations of $114.08 million. Duluth had a return on equity of 10.97% and a net margin of 2.82%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, equities analysts forecast that Duluth will post 0.72 earnings per share for the current fiscal year.

In related news, COO Allen L. Dittrich sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $14.94, for a total transaction of $89,640.00. Following the sale, the chief operating officer now directly owns 173,712 shares in the company, valued at $2,595,257.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.72% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its holdings in Duluth by 4,431.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,722 shares of the company’s stock valued at $41,000 after purchasing an additional 1,684 shares in the last quarter. Legal & General Group Plc boosted its holdings in Duluth by 37.9% in the fourth quarter. Legal & General Group Plc now owns 1,801 shares of the company’s stock valued at $45,000 after purchasing an additional 495 shares in the last quarter. Advisor Group Inc. boosted its holdings in Duluth by 219.9% in the fourth quarter. Advisor Group Inc. now owns 1,817 shares of the company’s stock valued at $46,000 after purchasing an additional 1,249 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Duluth in the first quarter valued at approximately $48,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Duluth by 298.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,185 shares of the company’s stock valued at $78,000 after purchasing an additional 2,385 shares in the last quarter. Hedge funds and other institutional investors own 42.06% 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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