DSW Inc. (DSW) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of DSW Inc. (NYSE:DSW) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $23.00 price objective on the stock.
According to Zacks, “DSW is a specialty branded footwear retailer operating DSW stores and also supplies, under supply arrangements, to related retailers and to other non-related retailers in the United States. “
Other equities analysts have also issued reports about the company. B. Riley restated a neutral rating and set a $23.00 price target on shares of DSW in a research note on Monday, September 5th. Credit Suisse Group AG restated a hold rating and set a $23.00 price target on shares of DSW in a research note on Wednesday, August 31st. Buckingham Research restated a buy rating and set a $27.00 price target on shares of DSW in a research note on Friday, July 15th. Wells Fargo & Co. upgraded DSW from an underperform rating to a market perform rating in a research note on Monday, July 11th. Finally, Canaccord Genuity set a $23.00 price objective on DSW and gave the company a hold rating in a research note on Thursday, September 15th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $23.80.
Shares of DSW (NYSE:DSW) opened at 20.57 on Tuesday. DSW has a one year low of $18.51 and a one year high of $29.53. The company has a market cap of $1.69 billion, a P/E ratio of 16.42 and a beta of 0.84. The company has a 50 day moving average price of $23.36 and a 200 day moving average price of $23.42.
DSW (NYSE:DSW) last posted its quarterly earnings data on Tuesday, August 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $659 million for the quarter, compared to analyst estimates of $658.95 million. DSW had a return on equity of 12.51% and a net margin of 3.96%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. Equities research analysts expect that DSW will post $1.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.89%. DSW’s dividend payout ratio is presently 64.52%.
In other news, Director Harvey L. Sonnenberg sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $23.50, for a total transaction of $188,000.00. Following the transaction, the director now directly owns 20,142 shares of the company’s stock, valued at $473,337. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William L. Jordan sold 42,423 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $25.00, for a total transaction of $1,060,575.00. Following the transaction, the executive vice president now directly owns 72,333 shares in the company, valued at $1,808,325. The disclosure for this sale can be found here. Insiders own 20.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Americafirst Capital Management LLC acquired a new position in shares of DSW during the second quarter valued at approximately $107,000. Pacad Investment Ltd. acquired a new position in shares of DSW during the second quarter valued at approximately $159,000. Teacher Retirement System of Texas boosted its position in shares of DSW by 7.8% in the second quarter. Teacher Retirement System of Texas now owns 10,468 shares of the company’s stock valued at $222,000 after buying an additional 753 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its position in shares of DSW by 1.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 9,143 shares of the company’s stock valued at $253,000 after buying an additional 100 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of DSW by 23.5% in the second quarter. Hsbc Holdings PLC now owns 12,206 shares of the company’s stock valued at $259,000 after buying an additional 2,319 shares in the last quarter. 87.86% of the stock is currently owned by institutional investors.
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.
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