Zacks Investment Research Upgrades Duluth (NASDAQ:DLTH) to “Hold”

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Duluth (NASDAQ:DLTH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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 commented on DLTH. TheStreet cut shares of Duluth from a “b-” rating to a “c+” rating in a research report on Wednesday, April 24th. Robert W. Baird raised shares of Duluth from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Tuesday, May 7th. BidaskClub cut shares of Duluth from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 30th. ValuEngine cut shares of Duluth from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. Finally, DA Davidson upped their target price on shares of Duluth to $15.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Duluth has a consensus rating of “Hold” and an average price target of $24.58.

Shares of Duluth stock traded up $0.11 during trading hours on Tuesday, reaching $10.21. 430,470 shares of the company’s stock were exchanged, compared to its average volume of 389,781. Duluth has a 1 year low of $10.02 and a 1 year high of $35.67. The stock has a market capitalization of $314.59 million, a P/E ratio of 14.18, a P/E/G ratio of 0.61 and a beta of 0.18. The firm has a fifty day moving average price of $12.76. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.01 and a quick ratio of 0.35.

Duluth (NASDAQ:DLTH) last announced its quarterly earnings data 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). Duluth had a net margin of 2.82% and a return on equity of 10.97%. The firm had revenue of $114.24 million during the quarter, compared to analysts’ expectations of $114.08 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Duluth will post 0.72 EPS for the current fiscal year.

In other Duluth news, COO Allen L. Dittrich sold 6,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $14.94, for a total value of $89,640.00. Following the transaction, the chief operating officer now owns 173,712 shares of the company’s stock, valued at $2,595,257.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 40.72% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of DLTH. William Blair Investment Management LLC acquired a new stake in shares of Duluth during the first quarter worth about $8,370,000. Atria Investments LLC acquired a new stake in shares of Duluth during the second quarter worth about $1,874,000. Oak Ridge Investments LLC lifted its position in shares of Duluth by 37.8% during the first quarter. Oak Ridge Investments LLC now owns 506,659 shares of the company’s stock worth $12,079,000 after purchasing an additional 139,110 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Duluth by 107.8% during the first quarter. Wasatch Advisors Inc. now owns 251,489 shares of the company’s stock worth $5,995,000 after purchasing an additional 130,467 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Duluth by 18.1% during the second quarter. BlackRock Inc. now owns 756,783 shares of the company’s stock worth $10,285,000 after purchasing an additional 116,235 shares in the last quarter. 40.24% of the stock is currently owned by institutional investors and hedge funds.

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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