Duluth (NASDAQ:DLTH) Cut to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of Duluth (NASDAQ:DLTH) from an outperform rating to a neutral rating in a research report report published on Friday morning, MarketBeat reports. The firm currently has $5.00 target price on the stock.

DLTH has been the subject of several other reports. Wall Street Zen raised shares of Duluth to a “hold” rating in a report on Saturday, May 23rd. Zacks Research lowered shares of Duluth from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Duluth from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Duluth presently has an average rating of “Hold” and an average price target of $5.00.

Duluth Price Performance

Duluth stock opened at $4.52 on Friday. The business’s 50-day moving average price is $4.11 and its 200 day moving average price is $3.53. The company has a quick ratio of 0.30, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The firm has a market cap of $171.76 million, a price-to-earnings ratio of 32.29 and a beta of 1.38. Duluth has a 52 week low of $2.02 and a 52 week high of $5.09.

Duluth (NASDAQ:DLTH) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.51. Duluth had a negative return on equity of 3.10% and a net margin of 1.07%.The company had revenue of $121.39 million during the quarter, compared to the consensus estimate of $119.91 million. As a group, sell-side analysts anticipate that Duluth will post -0.35 earnings per share for the current year.

Institutional Trading of Duluth

Several institutional investors have recently bought and sold shares of the business. Madison Asset Management LLC acquired a new position in shares of Duluth during the 2nd quarter worth approximately $3,417,000. Tieton Capital Management LLC purchased a new position in shares of Duluth during the 2nd quarter valued at approximately $3,255,000. Sei Investments Co. grew its stake in Duluth by 114.8% in the 1st quarter. Sei Investments Co. now owns 363,551 shares of the company’s stock valued at $1,149,000 after acquiring an additional 194,302 shares during the period. Barclays PLC grew its stake in Duluth by 32.2% in the 4th quarter. Barclays PLC now owns 58,043 shares of the company’s stock valued at $121,000 after acquiring an additional 14,136 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Duluth in the 3rd quarter worth $85,000. 24.39% of the stock is owned by institutional investors and hedge funds.

Duluth News Roundup

Here are the key news stories impacting Duluth this week:

• Positive Sentiment: Profitability sharply improved: Duluth reported second-quarter revenue of $121.4 million, slightly above expectations, and diluted EPS of $0.50 versus the consensus estimate of a $0.01 loss. Net income rose to $18.4 million from $1.3 million a year earlier, while adjusted EBITDA increased to $27.0 million from $12.0 million. Duluth Holdings Second-Quarter 2026 Results
• Positive Sentiment: Raised EBITDA guidance: Management increased fiscal 2026 adjusted EBITDA guidance to $38 million-$42 million from $28 million-$32 million, while maintaining its $540 million-$560 million revenue outlook. Duluth Raises Adjusted EBITDA Outlook
• Positive Sentiment: Margins and balance sheet strengthened: Gross margin expanded to 72.8%, or 59.6% excluding tariff refunds, supported by reduced promotions and direct sourcing. Inventory declined 15.5%, and the company ended the quarter with approximately $96 million in net liquidity and no borrowings on its asset-based lending facility.
• Neutral Sentiment: Analyst stance remains cautious: Robert W. Baird reaffirmed its “Neutral” rating but lifted or maintained a $5.00 price target, implying limited additional upside from the referenced price.
• Negative Sentiment: Sales weakened: Quarterly revenue fell 7.8% year over year. Direct-to-consumer sales dropped 11.5% because of lower web traffic and conversion, while store sales declined 2.4%.
• Negative Sentiment: Earnings benefited from a one-time item: The quarter included $16.3 million of tariff refunds, contributing approximately $0.44 of EPS, so underlying profitability was less robust than the headline results suggest.

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.