Destination XL Group (NASDAQ:DXLG) Releases Earnings Results, Hits Expectations

Destination XL Group (NASDAQ:DXLG) announced its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06), FiscalAI reports. The firm had revenue of $103.34 million during the quarter, compared to the consensus estimate of $105.63 million. Destination XL Group had a negative return on equity of 8.96% and a negative net margin of 8.25%.

Destination XL Group Price Performance

Shares of Destination XL Group stock opened at $0.69 on Wednesday. The company’s fifty day moving average price is $0.62 and its two-hundred day moving average price is $0.73. Destination XL Group has a 52-week low of $0.44 and a 52-week high of $1.69. The firm has a market capitalization of $38.14 million, a PE ratio of -1.05 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and issued a $1.50 target price on shares of Destination XL Group in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.50.

Institutional Trading of Destination XL Group

Large investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC bought a new position in Destination XL Group during the 2nd quarter valued at about $2,860,000. CIBC Bancorp USA Inc. acquired a new position in Destination XL Group in the third quarter worth $445,000. Cibc World Markets Corp bought a new position in shares of Destination XL Group in the fourth quarter valued at about $313,000. Qube Research & Technologies Ltd acquired a new stake in Destination XL Group in the 2nd quarter valued at about $84,000. Finally, XTX Topco Ltd bought a new position in shares of Destination XL Group in the second quarter worth about $72,000. 73.49% of the stock is currently owned by institutional investors.

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.