Zacks Investment Research Downgrades Duluth (DLTH) to Sell

Duluth (NASDAQ:DLTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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 subject of several other research reports. DA Davidson upgraded Duluth from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Thursday, January 24th. They noted that the move was a valuation call. BidaskClub upgraded Duluth from a “buy” rating to a “strong-buy” rating in a report on Friday, January 4th. ValuEngine downgraded Duluth from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, TheStreet upgraded Duluth from a “c+” rating to a “b” rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.25.

Shares of NASDAQ:DLTH opened at $22.40 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. Duluth has a twelve month low of $15.95 and a twelve month high of $35.67. The company has a market cap of $657.91 million, a PE ratio of 33.43, a PEG ratio of 0.89 and a beta of 0.53.

In related news, COO Allen L. Dittrich sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $25.47, for a total transaction of $127,350.00. Following the completion of the sale, the chief operating officer now owns 170,686 shares in the company, valued at $4,347,372.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 74.90% of the company’s stock.

A number of large investors have recently made changes to their positions in DLTH. Castleark Management LLC bought a new position in Duluth in the 4th quarter valued at $2,743,000. Summit Creek Advisors LLC grew its stake in Duluth by 25.2% in the 4th quarter. Summit Creek Advisors LLC now owns 407,337 shares of the company’s stock valued at $10,277,000 after purchasing an additional 81,872 shares during the period. Canada Pension Plan Investment Board bought a new position in Duluth in the 4th quarter valued at $1,892,000. EAM Global Investors LLC bought a new position in Duluth in the 3rd quarter valued at $1,603,000. Finally, D. E. Shaw & Co. Inc. grew its stake in Duluth by 502.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 53,469 shares of the company’s stock valued at $1,349,000 after purchasing an additional 44,595 shares during the period. Hedge funds and other institutional investors own 41.18% of the company’s stock.

Duluth Company Profile

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.

Read More: What is the price-to-earnings growth (PEG) ratio?

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