Destination XL Group (NASDAQ:DXLG) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Destination XL Group (NASDAQ:DXLG) announced its quarterly earnings results on Wednesday. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09, FiscalAI reports. Destination XL Group had a negative net margin of 9.22% and a negative return on equity of 10.88%. The business had revenue of $111.56 million during the quarter, compared to analyst estimates of $109.29 million.

Destination XL Group Price Performance

Shares of Destination XL Group stock opened at $0.63 on Wednesday. Destination XL Group has a 1 year low of $0.43 and a 1 year high of $1.58. The firm has a market cap of $34.82 million, a PE ratio of -0.86 and a beta of 1.28. The stock has a fifty day moving average price of $0.62 and a 200-day moving average price of $0.62.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $1.50 price target on shares of Destination XL Group in a research report on Thursday, June 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Destination XL Group in a report on Friday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.50.

Institutional Trading of Destination XL Group

Large investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp bought a new stake in shares of Destination XL Group in the 4th quarter worth approximately $313,000. CIBC Bancorp USA Inc. purchased a new position in shares of Destination XL Group during the 3rd quarter valued at $445,000. Nantahala Capital Management LLC grew its stake in shares of Destination XL Group by 74.8% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock worth $5,902,000 after acquiring an additional 1,928,226 shares during the period. Bank of America Corp DE increased its holdings in Destination XL Group by 47.8% in the 3rd quarter. Bank of America Corp DE now owns 63,384 shares of the company’s stock worth $83,000 after acquiring an additional 20,490 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Destination XL Group by 64.8% in the 3rd quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock worth $179,000 after acquiring an additional 53,773 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Destination XL Group

Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.