DA Davidson Has Lowered Expectations for Destination XL Group (NASDAQ:DXLG) Stock Price

Destination XL Group (NASDAQ:DXLG) had its price target cut by DA Davidson from $2.00 to $1.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 207.38% from the stock’s previous close.

Destination XL Group Price Performance

Shares of DXLG traded down $0.03 during midday trading on Friday, reaching $0.49. The stock had a trading volume of 59,288 shares, compared to its average volume of 143,404. Destination XL Group has a 1-year low of $0.46 and a 1-year high of $1.88. The company’s fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.94. The company has a market cap of $26.67 million, a price-to-earnings ratio of -3.49 and a beta of 1.47.

Destination XL Group (NASDAQ:DXLG) last issued its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $112.10 million for the quarter, compared to analyst estimates of $112.32 million. Destination XL Group had a negative return on equity of 3.81% and a negative net margin of 1.73%. On average, sell-side analysts forecast that Destination XL Group will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Nantahala Capital Management LLC purchased a new stake in Destination XL Group in the second quarter valued at approximately $2,860,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Destination XL Group during the fourth quarter worth approximately $1,589,000. Cibc World Markets Corp acquired a new position in shares of Destination XL Group in the 4th quarter valued at $313,000. CIBC Bancorp USA Inc. acquired a new position in shares of Destination XL Group in the 3rd quarter valued at $445,000. Finally, ING Groep NV purchased a new stake in Destination XL Group in the 3rd quarter valued at $393,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.