Zacks Research Upgrades Duluth (NASDAQ:DLTH) to “Strong-Buy”

Duluth (NASDAQ:DLTH) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on DLTH. Weiss Ratings upgraded shares of Duluth from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Wall Street Zen upgraded shares of Duluth to a “hold” rating in a research note on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.00.

Duluth Price Performance

Shares of DLTH opened at $4.77 on Wednesday. Duluth has a fifty-two week low of $1.82 and a fifty-two week high of $4.94. The company has a market capitalization of $175.35 million, a price-to-earnings ratio of -14.91 and a beta of 1.45. The firm has a 50-day simple moving average of $3.43 and a 200-day simple moving average of $2.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.38 and a current ratio of 1.62.

Duluth (NASDAQ:DLTH) last announced its earnings results on Monday, June 8th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.19. Duluth had a negative net margin of 2.00% and a negative return on equity of 3.69%. The business had revenue of $98.59 million during the quarter, compared to the consensus estimate of $93.69 million. On average, equities research analysts anticipate that Duluth will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On Duluth

A number of hedge funds have recently added to or reduced their stakes in DLTH. Sei Investments Co. lifted its position in Duluth by 114.8% in the first quarter. Sei Investments Co. now owns 363,551 shares of the company’s stock valued at $1,149,000 after purchasing an additional 194,302 shares during the period. GSA Capital Partners LLP acquired a new stake in Duluth in the third quarter valued at about $140,000. Goldman Sachs Group Inc. lifted its position in Duluth by 50.8% in the first quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company’s stock valued at $152,000 after purchasing an additional 29,521 shares during the period. Quadrature Capital Ltd acquired a new stake in Duluth in the fourth quarter valued at about $52,000. Finally, Squarepoint Ops LLC acquired a new stake in Duluth in the third quarter valued at about $85,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

About Duluth

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company’s product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.