Duluth Holdings Inc. (NASDAQ:DLTH) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday.

Several other brokerages also recently issued reports on DLTH. Raymond James Financial, Inc. downgraded Duluth Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 23rd. FBR & Co reaffirmed a “buy” rating and set a $26.00 price target on shares of Duluth Holdings in a report on Wednesday, September 6th. DA Davidson reaffirmed a “buy” rating and set a $25.00 price target on shares of Duluth Holdings in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Duluth Holdings in a report on Friday, September 8th. Finally, Zacks Investment Research upgraded Duluth Holdings from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.38.

Duluth Holdings (NASDAQ DLTH) opened at 20.66 on Wednesday. The company has a market cap of $670.58 million, a price-to-earnings ratio of 35.02 and a beta of 0.20. The company’s 50-day moving average is $19.92 and its 200-day moving average is $19.57. Duluth Holdings has a 12 month low of $16.01 and a 12 month high of $38.19.

Duluth Holdings (NASDAQ:DLTH) last announced its quarterly earnings results on Tuesday, September 5th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Duluth Holdings had a return on equity of 17.05% and a net margin of 4.64%. The business had revenue of $86.20 million during the quarter, compared to the consensus estimate of $82.51 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 31.0% on a year-over-year basis. On average, equities research analysts anticipate that Duluth Holdings will post $0.70 earnings per share for the current year.

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In other Duluth Holdings news, Director William E. Ferry sold 28,400 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $20.10, for a total transaction of $570,840.00. Following the transaction, the director now owns 2,032 shares in the company, valued at approximately $40,843.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William E. Ferry sold 2,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $19.39, for a total value of $38,780.00. Following the transaction, the director now owns 2,032 shares in the company, valued at approximately $39,400.48. The disclosure for this sale can be found here. Insiders have sold a total of 58,800 shares of company stock worth $1,173,360 in the last quarter. Company insiders own 70.38% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in Duluth Holdings by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,942 shares of the company’s stock worth $600,000 after buying an additional 171 shares during the period. American International Group Inc. increased its position in shares of Duluth Holdings by 7.0% in the first quarter. American International Group Inc. now owns 5,904 shares of the company’s stock worth $126,000 after purchasing an additional 388 shares during the period. Rhumbline Advisers increased its position in shares of Duluth Holdings by 9.2% in the second quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock worth $192,000 after purchasing an additional 885 shares during the period. Gradient Investments LLC increased its position in shares of Duluth Holdings by 7.7% in the second quarter. Gradient Investments LLC now owns 16,330 shares of the company’s stock worth $297,000 after purchasing an additional 1,170 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Duluth Holdings by 5.7% in the second quarter. TIAA CREF Investment Management LLC now owns 26,115 shares of the company’s stock worth $476,000 after purchasing an additional 1,397 shares during the period. Hedge funds and other institutional investors own 33.50% of the company’s stock.

About Duluth Holdings

Duluth Holdings Inc is a lifestyle brand of men’s and women’s casual wear, workwear and accessories. The Company offers a line of functional products, such as its Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company’s segments include direct and retail. The direct segment includes revenues from the Company’s Website and catalogs.

Analyst Recommendations for Duluth Holdings (NASDAQ:DLTH)

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