Duluth (NASDAQ:DLTH) Shares Break Below 50-Day Moving Average - Here's What Happened

Key Points

• Duluth shares fell below their 50-day moving average of $4.04, reaching $4.00 before closing at $4.04 on trading volume of 27,100 shares.
• Analyst sentiment is mixed but leans neutral: the consensus rating is “Hold” from three analysts, with a target price of $5.00.
• Duluth exceeded quarterly expectations, reporting $0.50 in EPS versus a $0.01 loss estimate and revenue of $121.39 million, while institutional investors own 24.39% of the company.

Duluth Holdings Inc. (NASDAQ:DLTH - Get Free Report)'s stock price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $4.04 and traded as low as $4.00. Duluth shares last traded at $4.04, with a volume of 27,100 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on DLTH shares. Zacks Research lowered Duluth from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Weiss Ratings raised Duluth from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Robert W. Baird cut Duluth from an "outperform" rating to a "neutral" rating and set a $5.00 target price for the company. in a report on Friday, September 4th. Finally, Wall Street Zen raised Duluth from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.00.

Duluth Trading Up 1.3%

The company has a quick ratio of 0.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.28. The stock's 50 day moving average price is $4.04 and its 200-day moving average price is $3.90. The stock has a market capitalization of $153.54 million, a P/E ratio of 28.86 and a beta of 1.35.

Duluth (NASDAQ:DLTH - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.51. Duluth had a net margin of 1.07% and a negative return on equity of 3.03%. The company had revenue of $121.39 million for the quarter, compared to analyst estimates of $119.91 million. As a group, equities research analysts expect that Duluth Holdings Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Duluth

Institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in shares of Duluth during the 2nd quarter worth approximately $108,000. Yarger Wealth Strategies LLC lifted its position in Duluth by 131.3% during the second quarter. Yarger Wealth Strategies LLC now owns 74,973 shares of the company's stock valued at $336,000 after acquiring an additional 42,554 shares during the last quarter. AXQ Capital LP purchased a new stake in Duluth during the second quarter valued at approximately $47,000. Madison Asset Management LLC acquired a new stake in Duluth in the second quarter valued at approximately $3,417,000. Finally, Tieton Capital Management LLC acquired a new stake in Duluth in the second quarter valued at approximately $3,255,000. Institutional investors own 24.39% of the company's stock.

About Duluth

Duluth Holdings Inc, doing business as Duluth Trading Company, is an American lifestyle and workwear retailer serving customers through its e-commerce website, catalogs and retail stores. The company offers apparel and accessories designed for work, outdoor activities and everyday use, with an emphasis on durability, comfort and functional features.

Its product assortment includes men's and women's shirts, pants, jackets, underwear, footwear and accessories, as well as selected workwear and outdoor products.

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