Duluth (NASDAQ:DLTH) Shares Pass Below Fifty Day Moving Average - Here's Why

Key Points

• Duluth shares fell below their 50-day moving average of $4.12, reaching $4.04 before closing at $4.07.
• Analyst sentiment remains mixed: Robert W. Baird and Zacks downgraded the stock, while other firms issued upgrades. The consensus rating is “Moderate Buy” with a $5.00 price target.
• Duluth exceeded quarterly expectations, reporting $0.50 in earnings per share versus a $0.01 loss estimate and revenue of $121.39 million versus $119.91 million expected. Institutional investors own 24.39% of the company.

Duluth Holdings Inc. (NASDAQ:DLTH - Get Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.12 and traded as low as $4.04. Duluth shares last traded at $4.07, with a volume of 45,563 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird cut Duluth from an "outperform" rating to a "neutral" rating and set a $5.00 price target for the company. in a research note on Friday, September 4th. Wall Street Zen upgraded Duluth from a "hold" rating to a "buy" rating in a research note on Saturday, September 12th. Zacks Research cut Duluth from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Duluth from a "sell (d-)" rating to a "hold (c)" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Duluth Price Performance

The stock has a market cap of $154.70 million, a price-to-earnings ratio of 29.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.88 and a quick ratio of 0.59. The business's 50-day simple moving average is $4.12 and its two-hundred day simple moving average is $3.72.

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

Institutional Investors Weigh In On Duluth

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Madison Asset Management LLC acquired a new position in shares of Duluth in the 2nd quarter worth approximately $3,417,000. Tieton Capital Management LLC acquired a new position in Duluth in the second quarter valued at $3,255,000. Sei Investments Co. boosted its position in Duluth by 114.8% during the first quarter. Sei Investments Co. now owns 363,551 shares of the company's stock valued at $1,149,000 after acquiring an additional 194,302 shares during the last quarter. Yarger Wealth Strategies LLC grew its holdings in Duluth by 131.3% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 74,973 shares of the company's stock worth $336,000 after acquiring an additional 42,554 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Duluth in the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 24.39% of the company's stock.

Duluth Company Profile

Duluth Holdings Inc, operating under the Duluth Trading brand, is an American lifestyle retailer that designs and sells casual, workwear and outdoor apparel for men and women. Its product range includes shirts, pants, jeans, jackets, base layers, underwear, footwear and accessories, along with selected tools, gear and gift items.

The company is known for products marketed around durability, utility and comfort, including Fire Hose workwear, Buck Naked underwear and other apparel designed for outdoor activities, trades work and everyday use.

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