Designer Brands (NYSE:DBI) Upgraded by Zacks Investment Research to “Buy”

Designer Brands (NYSE:DBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $21.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.72% from the stock’s previous close.

According to Zacks, “Designer Brands Inc. designs, produces and retails footwear and accessories. The Company offers shoes, boots, sandals, sneakers, socks, handbags and accessories. Its operating segment consists of DSW segment, which includes DSW stores and dsw.com and the Affiliated Business Group segment. Designer Brands Inc., formerly known as DSW Inc., is based in Columbus, Ohio. “

A number of other research firms also recently commented on DBI. CL King upgraded Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Friday, April 12th. TheStreet upgraded Designer Brands from a “c” rating to a “b-” rating in a research report on Thursday, May 30th. Canaccord Genuity decreased their target price on Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. ValuEngine upgraded Designer Brands from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 4th. Finally, Wedbush decreased their target price on Designer Brands from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Designer Brands presently has an average rating of “Hold” and an average target price of $23.25.

Shares of Designer Brands stock traded up $0.04 during trading hours on Tuesday, hitting $18.63. The company’s stock had a trading volume of 1,375,248 shares, compared to its average volume of 1,705,395. Designer Brands has a 12-month low of $17.97 and a 12-month high of $34.63. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.66 and a beta of 1.25. The company has a quick ratio of 0.43, a current ratio of 1.50 and a debt-to-equity ratio of 1.52.

Designer Brands (NYSE:DBI) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Designer Brands had a positive return on equity of 15.85% and a negative net margin of 0.41%. The business had revenue of $878.52 million for the quarter, compared to the consensus estimate of $874.97 million. During the same period in the previous year, the business earned $0.39 earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. On average, equities analysts expect that Designer Brands will post 1.92 earnings per share for the current year.

In other Designer Brands news, Chairman Deborah L. Ferree sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $18.87, for a total transaction of $1,320,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harvey L. Sonnenberg sold 7,924 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $18.29, for a total value of $144,929.96. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in Designer Brands during the first quarter worth approximately $26,000. Advisory Services Network LLC bought a new stake in Designer Brands during the first quarter worth approximately $37,000. Prime Capital Investment Advisors LLC bought a new stake in Designer Brands during the first quarter worth approximately $56,000. Cerebellum GP LLC bought a new stake in Designer Brands during the first quarter worth approximately $327,000. Finally, Mason Street Advisors LLC bought a new stake in Designer Brands during the first quarter worth approximately $487,000. 79.48% of the stock is currently owned by institutional investors.

Designer Brands Company Profile

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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