Duluth (NASDAQ:DLTH) Announces Earnings Results

Key Points

• Duluth beat quarterly expectations, reporting earnings of $0.50 per share versus the consensus estimate of a $0.01 loss. Revenue reached $121.39 million, slightly above the $119.91 million forecast.
• Despite the earnings beat, the company posted a negative net margin of 2.00% and negative return on equity of 3.69%, while shares opened at $3.62 and remained well below their 52-week high of $5.09.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $5.00 price target. Institutional investors own 24.39% of Duluth, with several funds recently initiating or increasing positions.

Duluth (NASDAQ:DLTH - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.51, FiscalAI reports. The firm had revenue of $121.39 million during the quarter, compared to the consensus estimate of $119.91 million. Duluth had a negative net margin of 2.00% and a negative return on equity of 3.69%.

Duluth Stock Performance

Shares of DLTH opened at $3.62 on Thursday. The firm has a market capitalization of $137.56 million, a P/E ratio of -11.31 and a beta of 1.38. Duluth has a 52 week low of $2.02 and a 52 week high of $5.09. The stock has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $3.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.30 and a current ratio of 1.62.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen upgraded Duluth to a "hold" rating in a research note on Saturday, May 23rd. Zacks Research lowered Duluth from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, Weiss Ratings raised Duluth from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in Duluth during the 3rd quarter worth $85,000. Quadrature Capital Ltd purchased a new position in Duluth during the fourth quarter worth about $52,000. Barclays PLC grew its position in Duluth by 32.2% in the 4th quarter. Barclays PLC now owns 58,043 shares of the company's stock worth $121,000 after purchasing an additional 14,136 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Duluth by 50.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company's stock worth $152,000 after purchasing an additional 29,521 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Duluth by 9.3% in the 1st quarter. Empowered Funds LLC now owns 101,447 shares of the company's stock valued at $177,000 after buying an additional 8,597 shares during the last quarter. Hedge funds and other institutional investors own 24.39% of the company's stock.

Duluth Company Profile

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company's product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.

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