Duluth (NASDAQ:DLTH) Raised to Strong-Buy at Baird R W

Key Points

• Duluth Holdings Inc has been upgraded by Baird R W from a "hold" rating to a "strong-buy" rating, indicating increased optimism among analysts regarding the company's future performance.
• The company's shares saw a price target increase from $2.00 to $7.00 following positive quarterly earnings results that exceeded analyst expectations.
• Duluth reports a current market capitalization of $142.43 million and a recent stock price of $3.79, following a 5.6% increase on the day of the upgrade.

Baird R W upgraded shares of Duluth (NASDAQ:DLTH - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upgraded Duluth from a "neutral" rating to an "outperform" rating and raised their price target for the company from $2.00 to $7.00 in a report on Friday. Wall Street Zen started coverage on Duluth in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $7.00.

Duluth Price Performance

Shares of NASDAQ:DLTH traded up $0.06 during midday trading on Friday, reaching $3.85. The company's stock had a trading volume of 904,429 shares, compared to its average volume of 3,662,921. Duluth has a fifty-two week low of $1.58 and a fifty-two week high of $4.66. The company has a market capitalization of $144.68 million, a P/E ratio of -2.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.35 and a quick ratio of 0.22. The business's fifty day simple moving average is $2.31 and its 200-day simple moving average is $2.12.

Duluth (NASDAQ:DLTH - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.08. The business had revenue of $131.72 million for the quarter, compared to analysts' expectations of $124.03 million. Duluth had a negative return on equity of 14.12% and a negative net margin of 7.99%. Duluth has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Duluth will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Duluth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Duluth during the second quarter worth about $50,000. Yarger Wealth Strategies LLC lifted its holdings in shares of Duluth by 124.5% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 32,419 shares of the company's stock valued at $68,000 after purchasing an additional 17,978 shares in the last quarter. Taylor & Morgan Wealth Management LLC lifted its holdings in shares of Duluth by 47.0% during the 1st quarter. Taylor & Morgan Wealth Management LLC now owns 39,687 shares of the company's stock valued at $69,000 after purchasing an additional 12,687 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Duluth by 14.2% during the 4th quarter. Northern Trust Corp now owns 62,462 shares of the company's stock valued at $193,000 after purchasing an additional 7,769 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Duluth by 50.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company's stock valued at $152,000 after purchasing an additional 29,521 shares in the last quarter. Institutional investors own 24.39% 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.