Destination XL Group’s (DXLG) “Buy” Rating Reiterated at DA Davidson

Destination XL Group (NASDAQ:DXLG)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They currently have a $1.50 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 123.88% from the stock’s previous close.

Destination XL Group Stock Performance

DXLG stock traded down $0.04 on Wednesday, reaching $0.67. The company had a trading volume of 16,319 shares, compared to its average volume of 138,496. Destination XL Group has a 1 year low of $0.44 and a 1 year high of $1.69. The company’s fifty day moving average is $0.56 and its 200 day moving average is $0.76. The company has a market cap of $36.72 million, a P/E ratio of -1.02 and a beta of 1.23.

Destination XL Group (NASDAQ:DXLG) last posted its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $112.10 million during the quarter, compared to analysts’ expectations of $112.32 million. Destination XL Group had a negative net margin of 8.25% and a negative return on equity of 8.96%.

Hedge Funds Weigh In On Destination XL Group

Several large investors have recently modified their holdings of DXLG. Bank of America Corp DE lifted its position in shares of Destination XL Group by 24.4% during the second quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock worth $48,000 after purchasing an additional 8,404 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Destination XL Group during the second quarter worth about $72,000. Qube Research & Technologies Ltd bought a new position in shares of Destination XL Group during the second quarter worth about $84,000. Jane Street Group LLC lifted its holdings in Destination XL Group by 32.9% in the first quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock worth $92,000 after acquiring an additional 15,593 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Destination XL Group in the third quarter worth about $97,000. 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.