Duluth (NASDAQ:DLTH) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Duluth (NASDAQ:DLTH) from a sell rating to a hold rating in a report released on Tuesday 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. “

DLTH has been the topic of several other reports. DA Davidson boosted their target price on Duluth to $15.00 and gave the stock a neutral rating in a report on Friday, June 14th. Robert W. Baird raised Duluth from a neutral rating to an outperform rating and set a $22.00 target price on the stock in a report on Tuesday, May 7th. BidaskClub downgraded Duluth from a sell rating to a strong sell rating in a report on Tuesday, July 30th. TheStreet downgraded Duluth from a b- rating to a c+ rating in a report on Wednesday, April 24th. Finally, ValuEngine downgraded Duluth from a hold rating to a sell rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $24.58.

DLTH stock opened at $10.21 on Tuesday. Duluth has a 1-year low of $10.02 and a 1-year high of $35.67. The company has a market cap of $314.59 million, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.61 and a beta of 0.18. The firm has a 50 day moving average of $12.76. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.35 and a current ratio of 2.01.

Duluth (NASDAQ:DLTH) last released its quarterly earnings data on Thursday, June 13th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The company had revenue of $114.24 million during the quarter, compared to the consensus estimate of $114.08 million. Duluth had a net margin of 2.82% and a return on equity of 10.97%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, research analysts expect that Duluth will post 0.72 earnings per share for the current fiscal year.

In related news, COO Allen L. Dittrich sold 6,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $14.94, for a total value of $89,640.00. Following the completion of the sale, the chief operating officer now owns 173,712 shares in the company, valued at approximately $2,595,257.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 40.72% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its holdings in Duluth by 63.9% during the 2nd quarter. Advisor Group Inc. now owns 2,569 shares of the company’s stock worth $35,000 after purchasing an additional 1,002 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings 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 in the last quarter. Legal & General Group Plc increased its holdings 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 in the last quarter. Quantamental Technologies LLC bought a new position in Duluth during the 1st quarter worth about $48,000. Finally, Tower Research Capital LLC TRC increased its holdings in Duluth by 221.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,964 shares of the company’s stock worth $108,000 after purchasing an additional 5,483 shares in the last quarter. Institutional investors and hedge funds own 40.24% 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.

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