Zacks Investment Research upgraded shares of DSW (NYSE:DSW) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $28.00 price target on the stock.
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. “
Several other research analysts have also recently issued reports on the company. TheStreet raised DSW from a c+ rating to a b rating in a research report on Tuesday, April 10th. ValuEngine cut DSW from a buy rating to a hold rating in a research report on Tuesday, March 20th. Deutsche Bank upped their price objective on DSW from $21.00 to $24.00 and gave the stock a buy rating in a research report on Monday, March 19th. Canaccord Genuity reaffirmed a hold rating and set a $22.00 price objective (up from $20.00) on shares of DSW in a research report on Wednesday, March 14th. Finally, B. Riley set a $22.00 price objective on DSW and gave the stock a neutral rating in a research report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $22.00.
DSW (NYSE:DSW) last issued its quarterly earnings results on Tuesday, March 13th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.11. DSW had a return on equity of 12.86% and a net margin of 2.40%. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $728.46 million. During the same quarter in the prior year, the business earned $0.20 EPS. DSW’s revenue was up 6.7% on a year-over-year basis. equities analysts expect that DSW will post 1.63 earnings per share for the current year.
In related news, EVP William L. Jordan sold 34,412 shares of the company’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $22.47, for a total value of $773,237.64. Following the completion of the sale, the executive vice president now directly owns 88,705 shares of the company’s stock, valued at approximately $1,993,201.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DSW. Sit Investment Associates Inc. acquired a new stake in shares of DSW in the 4th quarter valued at about $100,000. Meadow Creek Investment Management LLC acquired a new stake in shares of DSW in the 4th quarter valued at about $114,000. SG Americas Securities LLC acquired a new stake in shares of DSW in the 1st quarter valued at about $125,000. Cerebellum GP LLC acquired a new stake in shares of DSW in the 4th quarter valued at about $129,000. Finally, Advisors Preferred LLC acquired a new stake in shares of DSW in the 1st quarter valued at about $139,000. 98.66% of the stock is owned by hedge funds and other institutional investors.
DSW Inc, together with its subsidiaries, operates as a branded footwear and accessories retailer in the United States. The company offers dresses, casual and athletic footwear, and accessories under various brands for women, men, and kids. It also provides handbags, hosiery, jewelry, and other accessories.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DSW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DSW and related companies with MarketBeat.com's FREE daily email newsletter.