Zacks Investment Research Upgrades Duluth (DLTH) to Hold

Zacks Investment Research upgraded shares of Duluth (NASDAQ:DLTH) from a sell rating to a hold rating in a research report released on Thursday.

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. “

Other equities research analysts have also recently issued reports about the stock. B. Riley restated a buy rating on shares of Duluth in a research report on Wednesday, November 1st. Robert W. Baird restated a buy rating and set a $23.00 price objective on shares of Duluth in a research report on Friday, December 8th. DA Davidson restated a buy rating and set a $25.00 price objective on shares of Duluth in a research report on Wednesday, September 6th. TheStreet cut shares of Duluth from a c rating to a d+ rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus cut their price objective on shares of Duluth from $20.00 to $17.00 and set a hold rating for the company in a research report on Friday, December 8th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Duluth has an average rating of Buy and an average price target of $22.43.

Duluth (NASDAQ:DLTH) traded up $0.05 during trading on Thursday, reaching $18.13. 225,500 shares of the company traded hands, compared to its average volume of 385,284. Duluth has a 52-week low of $15.13 and a 52-week high of $26.88. The firm has a market capitalization of $527.53, a PE ratio of 33.57, a P/E/G ratio of 1.35 and a beta of 0.04. The company has a current ratio of 2.47, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59.

Duluth (NASDAQ:DLTH) last released its quarterly earnings data on Thursday, December 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). Duluth had a return on equity of 15.23% and a net margin of 4.16%. The firm had revenue of $83.70 million for the quarter, compared to analyst estimates of $84.01 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. Duluth’s revenue for the quarter was up 24.9% on a year-over-year basis. research analysts anticipate that Duluth will post 0.67 earnings per share for the current fiscal year.

In other Duluth news, Director William E. Ferry sold 28,400 shares of the 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 transaction, the director now owns 2,032 shares of the company’s stock, valued at $38,364.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Allen L. Dittrich sold 15,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $18.86, for a total transaction of $282,900.00. Following the transaction, the senior vice president now directly owns 211,221 shares of the company’s stock, valued at approximately $3,983,628.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,800 shares of company stock valued at $1,672,470. 70.38% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in DLTH. Schwab Charles Investment Management Inc. boosted its stake in Duluth by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 32,942 shares of the company’s stock worth $600,000 after buying an additional 171 shares during the period. Rhumbline Advisers boosted its stake in Duluth by 9.2% during the second quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock worth $192,000 after buying an additional 885 shares during the period. Bank of New York Mellon Corp boosted its stake in Duluth by 87.2% during the second quarter. Bank of New York Mellon Corp now owns 336,659 shares of the company’s stock worth $6,130,000 after buying an additional 156,857 shares during the period. Franklin Resources Inc. boosted its stake in Duluth by 24.9% during the second quarter. Franklin Resources Inc. now owns 796,098 shares of the company’s stock worth $14,497,000 after buying an additional 158,489 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Duluth by 254.3% during the second quarter. Wells Fargo & Company MN now owns 48,669 shares of the company’s stock worth $886,000 after buying an additional 34,931 shares during the period. 37.37% of the stock is owned by institutional investors.

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Duluth Company Profile

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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