Duluth (NASDAQ:DLTH) Issues Earnings Results

Duluth (NASDAQ:DLTH) announced its earnings results on Tuesday. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.33, FiscalAI reports. The business had revenue of $114.87 million during the quarter, compared to analyst estimates of $118.50 million. Duluth had a negative net margin of 7.99% and a negative return on equity of 14.31%. During the same period in the previous year, the business earned ($0.41) EPS.

Duluth Trading Up 7.6%

Shares of NASDAQ:DLTH opened at $3.13 on Tuesday. The stock has a 50 day moving average of $3.07 and a 200 day moving average of $2.73. The company has a market cap of $114.84 million, a PE ratio of -2.19 and a beta of 1.69. Duluth has a 12-month low of $1.58 and a 12-month high of $4.66. The company has a current ratio of 1.44, a quick ratio of 0.29 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird upgraded Duluth from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $2.00 to $7.00 in a research report on Friday, September 5th. Singular Research raised shares of Duluth to a “strong-buy” rating in a research report on Monday, October 13th. Wall Street Zen upgraded shares of Duluth to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Duluth in a research report on Tuesday, October 14th. Finally, Baird R W raised shares of Duluth from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $7.00.

Insiders Place Their Bets

In other news, CFO Heena Agrawal purchased 10,000 shares of the company’s stock in a transaction on Friday, September 26th. The stock was acquired at an average cost of $3.50 per share, for a total transaction of $35,000.00. Following the completion of the transaction, the chief financial officer directly owned 248,093 shares in the company, valued at $868,325.50. This trade represents a 4.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 42.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DLTH. Empowered Funds LLC boosted its holdings in Duluth by 9.3% in the 1st quarter. Empowered Funds LLC now owns 101,447 shares of the company’s stock worth $177,000 after buying an additional 8,597 shares during the period. Blair William & Co. IL lifted its position in shares of Duluth by 17.2% in the third quarter. Blair William & Co. IL now owns 113,510 shares of the company’s stock valued at $444,000 after acquiring an additional 16,678 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Duluth in the third quarter worth about $85,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Duluth by 50.8% during the first quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company’s stock worth $152,000 after purchasing an additional 29,521 shares in the last quarter. Hedge funds and other institutional investors own 24.39% 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.