Destination XL Group (NASDAQ:DXLG) Price Target Lowered to $1.50 at DA Davidson

Destination XL Group (NASDAQ:DXLG) had its price objective decreased by equities researchers at DA Davidson from $2.00 to $1.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 207.38% from the company’s current price.

Destination XL Group Price Performance

Shares of NASDAQ DXLG traded down $0.03 during midday trading on Friday, hitting $0.49. The company’s stock had a trading volume of 59,288 shares, compared to its average volume of 143,404. The firm has a market capitalization of $26.67 million, a price-to-earnings ratio of -3.49 and a beta of 1.47. The business’s fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.94. Destination XL Group has a 1 year low of $0.46 and a 1 year high of $1.88.

Destination XL Group (NASDAQ:DXLG) last announced its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Destination XL Group had a negative return on equity of 3.81% and a negative net margin of 1.73%.The business had revenue of $112.10 million for the quarter, compared to analysts’ expectations of $112.32 million. Analysts anticipate that Destination XL Group will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC increased its holdings in Destination XL Group by 7.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock worth $458,000 after purchasing an additional 27,651 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Destination XL Group in the 3rd quarter valued at about $445,000. Cibc World Markets Corp purchased a new position in shares of Destination XL Group in the 4th quarter valued at about $313,000. Two Sigma Investments LP grew its position in shares of Destination XL Group by 64.8% during the third quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock worth $179,000 after buying an additional 53,773 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Destination XL Group by 32.9% during the first quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock worth $92,000 after buying an additional 15,593 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Destination XL Group Company Profile

Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.