Duluth (NASDAQ:DLTH) Upgraded by Zacks Research to Strong-Buy Rating

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

Several other analysts have also issued reports on DLTH. Weiss Ratings raised Duluth from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen raised Duluth to a “hold” rating in a report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $5.00.

Duluth Stock Performance

NASDAQ:DLTH opened at $4.77 on Wednesday. The stock has a 50-day simple moving average of $3.43 and a two-hundred day simple moving average of $2.82. Duluth has a 52-week low of $1.82 and a 52-week high of $4.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.38 and a current ratio of 1.62. The firm has a market capitalization of $175.35 million, a PE ratio of -14.91 and a beta of 1.45.

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Monday, June 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.19. Duluth had a negative return on equity of 3.69% and a negative net margin of 2.00%.The business had revenue of $98.59 million during the quarter, compared to analyst estimates of $93.69 million. Analysts forecast that Duluth will post -0.26 EPS for the current year.

Hedge Funds Weigh In On Duluth

Large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its position in shares of Duluth by 9.3% in the first quarter. Empowered Funds LLC now owns 101,447 shares of the company’s stock valued at $177,000 after acquiring an additional 8,597 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Duluth by 17.2% in the third quarter. Blair William & Co. IL now owns 113,510 shares of the company’s stock valued at $444,000 after acquiring an additional 16,678 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 29,521 shares in the last quarter. Barclays PLC lifted its position in shares of Duluth by 32.2% in the fourth quarter. Barclays PLC now owns 58,043 shares of the company’s stock valued at $121,000 after acquiring an additional 14,136 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Duluth in the third quarter valued at about $85,000. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Duluth Company Profile

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.