Duluth (DLTH) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Duluth (NASDAQ:DLTH) from a sell rating to a hold rating in a report issued on Wednesday morning.

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. “

A number of other analysts have also weighed in on the stock. DA Davidson raised shares of Duluth from a neutral rating to a buy rating and set a $30.00 price target for the company in a research note on Thursday, January 24th. They noted that the move was a valuation call. BidaskClub raised shares of Duluth from a buy rating to a strong-buy rating in a research note on Friday, January 4th. ValuEngine lowered shares of Duluth from a buy rating to a hold rating in a research note on Tuesday, January 22nd. Finally, TheStreet raised shares of Duluth from a c+ rating to a b rating in a research note on Monday, November 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $29.75.

Shares of NASDAQ:DLTH opened at $25.02 on Wednesday. The company has a market capitalization of $763.97 million, a PE ratio of 37.34, a P/E/G ratio of 1.03 and a beta of 0.51. Duluth has a twelve month low of $15.95 and a twelve month high of $35.67. The company has a quick ratio of 0.29, a current ratio of 2.31 and a debt-to-equity ratio of 0.78.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, December 6th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $106.70 million during the quarter, compared to analyst estimates of $104.68 million. Duluth had a net margin of 4.12% and a return on equity of 14.24%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. Equities analysts forecast that Duluth will post 0.84 earnings per share for the current year.

In related news, COO Allen L. Dittrich sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 directly owns 170,686 shares of the company’s stock, valued at $4,347,372.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 74.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in DLTH. Legal & General Group Plc lifted its stake in Duluth by 37.9% during the fourth quarter. Legal & General Group Plc now owns 1,801 shares of the company’s stock valued at $45,000 after purchasing an additional 495 shares during the last quarter. Advisor Group Inc. lifted its stake in Duluth by 219.9% during the fourth quarter. Advisor Group Inc. now owns 1,817 shares of the company’s stock valued at $46,000 after purchasing an additional 1,249 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Duluth by 298.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,185 shares of the company’s stock valued at $78,000 after purchasing an additional 2,385 shares during the last quarter. Citigroup Inc. lifted its stake in Duluth by 237.8% during the fourth quarter. Citigroup Inc. now owns 8,482 shares of the company’s stock valued at $214,000 after purchasing an additional 5,971 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in Duluth during the third quarter valued at approximately $229,000. 39.08% of the stock is owned by institutional investors and hedge funds.

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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