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

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Zacks Investment Research cut shares of Duluth (NASDAQ:DLTH) from a hold rating to a sell rating in a research note issued to investors 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 research firms have also recently issued reports on DLTH. DA Davidson dropped their price target on shares of Broadcom to $300.00 and set a buy rating on the stock in a research note on Friday, June 14th. TheStreet raised shares of Viacom from a c+ rating to a b- rating in a research note on Wednesday, April 24th. BidaskClub cut shares of Ollie’s Bargain Outlet from a buy rating to a hold rating in a research note on Sunday, June 16th. William Blair cut shares of Duluth from an outperform rating to a market perform rating and set a $18.90 price target on the stock. in a research note on Friday, April 5th. Finally, ValuEngine cut shares of USD Partners from a hold rating to a sell rating in a research note on Friday, June 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Duluth currently has an average rating of Hold and an average target price of $24.58.

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

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Thursday, June 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Duluth had a net margin of 2.82% and a return on equity of 10.97%. The company had revenue of $114.24 million during the quarter, compared to analyst estimates of $114.08 million. During the same period in the prior year, the business posted ($0.02) EPS. Duluth’s revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Duluth will post 0.72 EPS for the current year.

In other Duluth news, COO Allen L. Dittrich sold 6,000 shares of Duluth stock in a transaction 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 owns 173,712 shares of the company’s stock, valued at approximately $2,595,257.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 40.72% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its stake in Duluth by 4,431.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,722 shares of the company’s stock worth $41,000 after purchasing an additional 1,684 shares during the last quarter. Legal & General Group Plc boosted its stake in Duluth by 37.9% during the 4th quarter. Legal & General Group Plc now owns 1,801 shares of the company’s stock worth $45,000 after purchasing an additional 495 shares during the last quarter. Advisor Group Inc. boosted its stake in Duluth by 219.9% during the 4th quarter. Advisor Group Inc. now owns 1,817 shares of the company’s stock worth $46,000 after purchasing an additional 1,249 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Duluth during the 1st quarter worth $48,000. Finally, Great West Life Assurance Co. Can boosted its stake in Duluth by 298.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,185 shares of the company’s stock worth $78,000 after purchasing an additional 2,385 shares during the last quarter. 42.06% of the stock is currently owned by institutional investors.

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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