DSW Inc. (DSW) Downgraded by Wedbush
Wedbush lowered shares of DSW Inc. (NYSE:DSW) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $20.00 target price on the stock, down from their previous target price of $23.00. Wedbush also issued estimates for DSW’s Q3 2018 earnings at $0.54 EPS and Q4 2018 earnings at $0.26 EPS.
A number of other analysts also recently commented on DSW. Deutsche Bank AG raised DSW from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Tuesday, July 25th. Zacks Investment Research raised DSW from a sell rating to a hold rating in a research note on Monday, July 31st. Canaccord Genuity set a $17.00 price objective on DSW and gave the stock a hold rating in a research note on Sunday, August 20th. Standpoint Research downgraded DSW from a buy rating to a hold rating in a research note on Tuesday, August 22nd. Finally, B. Riley raised DSW from a neutral rating to a buy rating and boosted their price objective for the stock from $18.50 to $22.00 in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $21.12.
Shares of DSW (NYSE:DSW) traded up $0.02 during trading on Wednesday, reaching $18.89. The company’s stock had a trading volume of 1,789,237 shares, compared to its average volume of 2,173,866. The stock has a market cap of $1,517.77, a P/E ratio of 13.40, a P/E/G ratio of 2.04 and a beta of 0.79.
DSW (NYSE:DSW) last posted its quarterly earnings data on Tuesday, August 22nd. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.09. DSW had a return on equity of 12.12% and a net margin of 4.41%. The company had revenue of $680.40 million for the quarter, compared to the consensus estimate of $666.66 million. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. equities research analysts anticipate that DSW will post 1.48 EPS for the current fiscal year.
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DSW declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 22nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 33.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, Chairman Deborah L. Ferree sold 75,452 shares of DSW stock in a transaction on Friday, August 25th. The stock was sold at an average price of $20.00, for a total transaction of $1,509,040.00. Following the transaction, the chairman now owns 199,445 shares in the company, valued at $3,988,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William L. Jordan sold 15,100 shares of DSW stock in a transaction on Friday, September 8th. The shares were sold at an average price of $19.00, for a total value of $286,900.00. Following the transaction, the executive vice president now owns 56,688 shares in the company, valued at approximately $1,077,072. The disclosure for this sale can be found here. Insiders have sold 127,891 shares of company stock worth $2,559,458 in the last quarter. 20.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of DSW by 42,735.5% during the first quarter. BlackRock Inc. now owns 8,346,505 shares of the company’s stock valued at $172,606,000 after buying an additional 8,327,020 shares in the last quarter. FMR LLC grew its holdings in shares of DSW by 9.3% during the second quarter. FMR LLC now owns 6,291,973 shares of the company’s stock valued at $111,368,000 after buying an additional 533,713 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of DSW by 5.1% during the second quarter. Vanguard Group Inc. now owns 6,081,533 shares of the company’s stock valued at $107,644,000 after buying an additional 297,463 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of DSW by 41.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,974,645 shares of the company’s stock valued at $105,753,000 after buying an additional 1,748,831 shares in the last quarter. Finally, MIG Capital LLC grew its holdings in shares of DSW by 12.6% during the second quarter. MIG Capital LLC now owns 1,960,000 shares of the company’s stock valued at $34,692,000 after buying an additional 218,792 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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