Designer Brands (NYSE:DBI) Rating Lowered to C+ at TheStreet

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Designer Brands (NYSE:DBI) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Monday, TheStreetRatingsTable reports.

Several other research firms have also weighed in on DBI. Wedbush cut their target price on Designer Brands from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. ValuEngine lowered Designer Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, June 13th. Zacks Investment Research lowered Designer Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Canaccord Genuity dropped their price objective on Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.00.

NYSE DBI opened at $15.90 on Monday. Designer Brands has a fifty-two week low of $15.06 and a fifty-two week high of $34.63. The company’s 50-day moving average is $18.11. The company has a current ratio of 1.50, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.57 and a beta of 1.21.

Designer Brands (NYSE:DBI) last posted its earnings results on Thursday, May 30th. The company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Designer Brands had a positive return on equity of 15.85% and a negative net margin of 0.41%. The company had revenue of $878.52 million for the quarter, compared to analyst estimates of $874.97 million. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue was up 23.4% compared to the same quarter last year. On average, analysts forecast that Designer Brands will post 1.92 earnings per share for the current fiscal year.

In other news, Director Joanne Zaiac sold 3,688 shares of Designer Brands stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $19.14, for a total value of $70,588.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harvey L. Sonnenberg sold 7,924 shares of Designer Brands stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $18.29, for a total value of $144,929.96. The disclosure for this sale can be found here. Insiders sold 81,612 shares of company stock worth $1,536,418 over the last quarter. 17.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in DBI. Versant Capital Management Inc acquired a new stake in Designer Brands during the first quarter worth about $26,000. Advisors Preferred LLC acquired a new stake in Designer Brands during the second quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in Designer Brands during the second quarter worth about $27,000. US Bancorp DE acquired a new stake in Designer Brands during the second quarter worth about $31,000. Finally, LS Investment Advisors LLC acquired a new stake in Designer Brands during the second quarter worth about $34,000. 81.57% of the stock is currently owned by institutional investors and hedge funds.

Designer Brands Company Profile

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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