Duluth Holdings Inc. (DLTH) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Duluth Holdings Inc. (NASDAQ:DLTH) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $22.00 target price on the stock.

According to Zacks, “Duluth Holdings Inc. provides casual wear, workwear and accessories for men and women. The company markets its products under trademarks, trade names and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Buck Naked, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Company, Duluthflex, Fire Hose, Longtail T, No Polo Shirt and Wild Boar Mocs. Duluth Holdings Inc. is headquartered in Belleville, Wisconsin. “

A number of other equities research analysts have also recently commented on DLTH. DA Davidson reiterated a buy rating and set a $25.00 target price on shares of Duluth Holdings in a research note on Wednesday. FBR & Co reiterated a buy rating and set a $26.00 target price on shares of Duluth Holdings in a research note on Wednesday. Raymond James Financial, Inc. cut Duluth Holdings from an outperform rating to a market perform rating in a research note on Wednesday, August 23rd. BidaskClub upgraded Duluth Holdings from a sell rating to a hold rating in a research note on Saturday, August 19th. Finally, BMO Capital Markets set a $30.00 target price on Duluth Holdings and gave the stock a buy rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Duluth Holdings has a consensus rating of Buy and a consensus price target of $26.38.

Shares of Duluth Holdings (DLTH) opened at 19.30 on Thursday. Duluth Holdings has a 52-week low of $16.01 and a 52-week high of $38.19. The company has a market capitalization of $626.36 million, a price-to-earnings ratio of 33.86 and a beta of 0.19. The firm’s 50-day moving average is $19.52 and its 200 day moving average is $19.72.

Duluth Holdings (NASDAQ:DLTH) last issued its quarterly earnings data on Tuesday, September 5th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Duluth Holdings had a return on equity of 17.05% and a net margin of 4.64%. The business had revenue of $86.20 million for the quarter, compared to analysts’ expectations of $82.51 million. During the same period last year, the business earned $0.11 EPS. The business’s revenue was up 31.0% on a year-over-year basis. On average, equities research analysts anticipate that Duluth Holdings will post $0.72 earnings per share for the current year.

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In related news, SVP Allen L. Dittrich sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $18.99, for a total value of $189,900.00. Following the sale, the senior vice president now directly owns 241,221 shares in the company, valued at approximately $4,580,786.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William E. Ferry sold 28,400 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $19.85, for a total value of $563,740.00. Following the completion of the sale, the director now owns 2,032 shares in the company, valued at $40,335.20. The disclosure for this sale can be found here. Insiders have sold a total of 66,800 shares of company stock worth $1,291,252 over the last quarter. Company insiders own 70.38% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Duluth Holdings by 24.9% in the 2nd quarter. Franklin Resources Inc. now owns 796,098 shares of the company’s stock valued at $14,497,000 after acquiring an additional 158,489 shares during the period. Thrivent Financial For Lutherans raised its stake in Duluth Holdings by 13.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 574,407 shares of the company’s stock valued at $10,460,000 after acquiring an additional 68,400 shares during the period. Cooper Creek Partners Management LLC raised its stake in Duluth Holdings by 351.0% in the 2nd quarter. Cooper Creek Partners Management LLC now owns 538,325 shares of the company’s stock valued at $9,803,000 after acquiring an additional 418,965 shares during the period. Summit Creek Advisors LLC raised its stake in Duluth Holdings by 154.4% in the 2nd quarter. Summit Creek Advisors LLC now owns 532,652 shares of the company’s stock valued at $9,700,000 after acquiring an additional 323,293 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Duluth Holdings by 183.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 448,360 shares of the company’s stock valued at $8,164,000 after acquiring an additional 290,392 shares during the period. Institutional investors and hedge funds own 33.54% of the company’s stock.

Duluth Holdings Company Profile

Duluth Holdings Inc is a lifestyle brand of men’s and women’s casual wear, workwear and accessories. The Company offers a line of functional products, such as its Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company’s segments include direct and retail. The direct segment includes revenues from the Company’s Website and catalogs.

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