Zacks Investment Research downgraded shares of Duluth (NASDAQ:DLTH) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Duluth Holdings Inc. provides casual wear, workwear and accessories for men and women. The company markets its products under trademarks, trade names and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Buck Naked, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Company, Duluthflex, Fire Hose, Longtail T, No Polo Shirt and Wild Boar Mocs. Duluth Holdings Inc. is headquartered in Belleville, Wisconsin. “

A number of other analysts also recently weighed in on DLTH. Stifel Nicolaus cut their target price on Duluth from $11.00 to $9.00 and set a hold rating for the company in a research report on Tuesday. ValuEngine raised Duluth from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, BidaskClub upgraded Duluth from a sell rating to a hold rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $16.23.

Shares of DLTH traded up $2.29 during mid-day trading on Wednesday, hitting $10.10. 131,358 shares of the company’s stock were exchanged, compared to its average volume of 390,812. The company has a quick ratio of 0.32, a current ratio of 1.93 and a debt-to-equity ratio of 1.31. Duluth has a 52 week low of $7.51 and a 52 week high of $31.09. The stock’s 50-day simple moving average is $9.20 and its 200-day simple moving average is $11.24. The firm has a market cap of $229.38 million, a price-to-earnings ratio of 14.10 and a beta of 0.31.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). Duluth had a return on equity of 7.90% and a net margin of 2.02%. The company had revenue of $121.96 million for the quarter, compared to analyst estimates of $127.33 million. During the same period in the prior year, the company earned $0.20 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts forecast that Duluth will post 0.61 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in Duluth in the third quarter valued at about $4,613,000. Marshall Wace North America L.P. bought a new position in shares of Duluth in the second quarter worth about $6,752,000. Atria Investments LLC acquired a new stake in shares of Duluth in the 2nd quarter valued at approximately $1,874,000. Marshall Wace LLP boosted its stake in shares of Duluth by 1,997.5% in the 2nd quarter. Marshall Wace LLP now owns 321,877 shares of the company’s stock valued at $4,374,000 after purchasing an additional 306,531 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Duluth by 753.0% during the 2nd quarter. Morgan Stanley now owns 147,694 shares of the company’s stock valued at $2,007,000 after purchasing an additional 130,380 shares during the last quarter. Institutional investors and hedge funds own 40.02% of the company’s stock.

About Duluth

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.

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