DSW Inc. (DSW) Upgraded by Zacks Investment Research to Strong-Buy
Zacks Investment Research upgraded shares of DSW Inc. (NYSE:DSW) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning. They currently have $29.00 target price 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. “
A number of other brokerages also recently issued reports on DSW. B. Riley reissued a neutral rating and set a $23.00 price target on shares of DSW in a report on Wednesday, August 31st. Canaccord Genuity reissued a hold rating and set a $23.00 price target (up from $19.00) on shares of DSW in a report on Monday, August 29th. They noted that the move was a valuation call. Telsey Advisory Group lowered their price target on shares of DSW from $27.00 to $25.00 and set a market perform rating on the stock in a report on Wednesday, August 31st. Susquehanna initiated coverage on shares of DSW in a report on Thursday, September 15th. They set a negative rating and a $19.00 price target on the stock. Finally, Standpoint Research initiated coverage on shares of DSW in a report on Friday, November 4th. They set a buy rating and a $28.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. DSW currently has a consensus rating of Hold and an average price target of $24.52.
Shares of DSW (NYSE:DSW) opened at 24.75 on Tuesday. DSW has a 12-month low of $18.51 and a 12-month high of $29.53. The company has a market capitalization of $2.04 billion, a P/E ratio of 19.75 and a beta of 0.72. The stock has a 50 day moving average of $21.57 and a 200-day moving average of $22.32.
DSW (NYSE:DSW) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $697 million for the quarter, compared to the consensus estimate of $710.42 million. DSW had a net margin of 3.96% and a return on equity of 12.51%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts forecast that DSW will post $1.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.21%. DSW’s payout ratio is currently 64.52%.
In other DSW 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 sale, the director now owns 20,142 shares of the company’s stock, valued at $473,337. The transaction was disclosed in a filing with the SEC, 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 sale, the executive vice president now directly owns 72,333 shares in the company, valued at approximately $1,808,325. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC acquired a new position in shares of DSW during the second quarter worth approximately $107,000. NEXT Financial Group Inc acquired a new position in shares of DSW during the third quarter worth approximately $123,000. MSI Financial Services Inc boosted its position in shares of DSW by 2.9% in the third quarter. MSI Financial Services Inc now owns 6,703 shares of the company’s stock worth $137,000 after buying an additional 190 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of DSW by 100.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,200 shares of the company’s stock worth $147,000 after buying an additional 3,600 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in shares of DSW during the second quarter worth approximately $159,000. 82.29% of the stock is currently owned by institutional investors.
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DSW Company Profile
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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