DA Davidson Cuts Destination XL Group (NASDAQ:DXLG) Price Target to $1.25

Destination XL Group (NASDAQ:DXLG) had its price target reduced by DA Davidson from $1.50 to $1.25 in a research report sent to investors on Friday morning, Marketbeat reports. DA Davidson currently has a buy rating on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Destination XL Group in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.25.

Destination XL Group Stock Performance

Shares of NASDAQ DXLG opened at $0.64 on Friday. Destination XL Group has a twelve month low of $0.43 and a twelve month high of $1.58. The company has a market capitalization of $35.49 million, a price-to-earnings ratio of -0.93 and a beta of 1.28. The business has a 50 day simple moving average of $0.62 and a 200-day simple moving average of $0.62.

Destination XL Group (NASDAQ:DXLG) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. Destination XL Group had a negative return on equity of 9.05% and a negative net margin of 8.77%.The business had revenue of $111.56 million for the quarter, compared to analyst estimates of $109.00 million.

Hedge Funds Weigh In On Destination XL Group

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Destination XL Group by 24.4% during the 2nd 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 period. Jane Street Group LLC boosted its position in Destination XL Group by 32.9% during the 1st quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock valued at $92,000 after purchasing an additional 15,593 shares during the period. XTX Topco Ltd acquired a new position in Destination XL Group during the 2nd quarter valued at approximately $72,000. Qube Research & Technologies Ltd bought a new position in Destination XL Group during the 2nd quarter worth $84,000. Finally, Empowered Funds LLC bought a new position in Destination XL Group during the 2nd quarter worth $73,000. 73.49% of the stock is owned by institutional investors.

Destination XL Group Company Profile

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.