UBS AG Upgrades DSW Inc. (DSW) to “Positive”
DSW Inc. (NYSE:DSW) was upgraded by investment analysts at UBS AG from a “neutral” rating to a “positive” rating in a report issued on Thursday.
Several other equities research analysts have also recently commented on DSW. Deutsche Bank AG raised shares of DSW from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, July 25th. Wedbush raised shares of DSW from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, July 26th. Zacks Investment Research raised shares of DSW from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity set a $17.00 target price on shares of DSW and gave the stock a “hold” rating in a research report on Sunday, August 20th. Finally, Standpoint Research cut shares of DSW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.27.
Shares of DSW (NYSE DSW) opened at $22.15 on Thursday. The stock has a market cap of $1,620.00, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 2.09 and a beta of 0.79. DSW has a twelve month low of $15.14 and a twelve month high of $25.96.
DSW announced that its Board of Directors has approved a share repurchase program on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 33.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Chairman Deborah L. Ferree sold 75,452 shares of DSW stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $20.00, for a total value of $1,509,040.00. Following the completion of the sale, the chairman now directly owns 199,445 shares in the company, valued at $3,988,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William L. Jordan sold 10,000 shares of DSW stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $21.32, for a total transaction of $213,200.00. Following the completion of the sale, the executive vice president now owns 51,588 shares of the company’s stock, valued at $1,099,856.16. The disclosure for this sale can be found here. Insiders sold 127,891 shares of company stock valued at $2,559,458 over the last quarter. Company insiders own 20.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of DSW in the third quarter worth approximately $152,000. PNC Financial Services Group Inc. grew its position in DSW by 3.9% during the first quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock valued at $155,000 after buying an additional 283 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in DSW during the third quarter valued at approximately $197,000. Campbell & CO Investment Adviser LLC bought a new stake in DSW during the third quarter valued at approximately $217,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in DSW during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 86.78% of the company’s stock.
DSW Company Profile
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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