Zacks Investment Research Downgrades Duluth (NASDAQ:DLTH) to Sell

Duluth (NASDAQ:DLTH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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. Stifel Nicolaus lowered their target price on shares of Duluth from $11.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday. BidaskClub upgraded Duluth from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, ValuEngine raised Duluth from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.23.

NASDAQ:DLTH opened at $9.73 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.93 and a quick ratio of 0.32. The company has a 50 day moving average price of $9.21 and a 200-day moving average price of $11.21. Duluth has a 1-year low of $7.51 and a 1-year high of $31.09. The firm has a market cap of $229.38 million, a price-to-earnings ratio of 13.51 and a beta of 0.31.

Duluth (NASDAQ:DLTH) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. Duluth had a net margin of 2.02% and a return on equity of 7.90%. The firm had revenue of $119.80 million for the quarter, compared to the consensus estimate of $114.98 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Duluth will post 0.61 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in DLTH. Millennium Management LLC acquired a new position in Duluth during the third quarter worth $4,613,000. Man Group plc purchased a new stake in shares of Duluth during the third quarter worth about $380,000. Squarepoint Ops LLC acquired a new position in shares of Duluth during the 3rd quarter worth about $1,043,000. Voloridge Investment Management LLC raised its position in shares of Duluth by 45.9% during the 3rd quarter. Voloridge Investment Management LLC now owns 36,237 shares of the company’s stock worth $307,000 after purchasing an additional 11,392 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Duluth by 30.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 557,237 shares of the company’s stock worth $4,725,000 after purchasing an additional 129,638 shares during the last quarter. 40.02% of the stock is currently owned by hedge funds and other institutional investors.

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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