Zacks Investment Research downgraded shares of Duluth (NASDAQ:DLTH) from a hold rating to a sell rating in a research note published on Monday.

According to Zacks, “Duluth Holdings Inc. provides casual wear, workwear and accessories for men and women. The company markets its products under trademarks, trade names and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Buck Naked, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Company, Duluthflex, Fire Hose, Longtail T, No Polo Shirt and Wild Boar Mocs. Duluth Holdings Inc. is headquartered in Belleville, Wisconsin. “

DLTH has been the subject of several other reports. Robert W. Baird reiterated a buy rating on shares of Duluth in a report on Friday, September 8th. Raymond James Financial cut Duluth from an outperform rating to a market perform rating in a report on Wednesday, August 23rd. DA Davidson set a $25.00 target price on Duluth and gave the stock a buy rating in a report on Monday, November 27th. BidaskClub upgraded Duluth from a sell rating to a hold rating in a research note on Saturday, August 19th. Finally, BMO Capital Markets set a $18.00 price objective on Duluth and gave the stock a hold rating in a research note on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $22.43.

Shares of Duluth (NASDAQ DLTH) opened at $15.21 on Monday. Duluth has a 1-year low of $15.13 and a 1-year high of $27.72. The firm has a market capitalization of $451.01, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.15 and a beta of 0.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.47 and a quick ratio of 0.27.

Duluth (NASDAQ:DLTH) last issued its earnings results on Thursday, December 7th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). Duluth had a return on equity of 15.23% and a net margin of 4.16%. The firm had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $84.01 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Duluth’s quarterly revenue was up 24.9% compared to the same quarter last year. sell-side analysts predict that Duluth will post 0.67 earnings per share for the current fiscal year.

In related news, SVP Allen L. Dittrich sold 15,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $18.86, for a total transaction of $282,900.00. Following the transaction, the senior vice president now directly owns 211,221 shares of the company’s stock, valued at approximately $3,983,628.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William E. Ferry sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $19.39, for a total value of $38,780.00. Following the transaction, the director now directly owns 2,032 shares in the company, valued at $39,400.48. The disclosure for this sale can be found here. Insiders have sold a total of 117,200 shares of company stock worth $2,282,090 over the last ninety days. 70.38% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN acquired a new position in shares of Duluth in the third quarter valued at about $6,275,000. JPMorgan Chase & Co. acquired a new position in shares of Duluth in the third quarter valued at about $158,000. Oak Ridge Investments LLC acquired a new position in shares of Duluth in the third quarter valued at about $3,548,000. Russell Investments Group Ltd. increased its holdings in shares of Duluth by 10.2% in the third quarter. Russell Investments Group Ltd. now owns 494,003 shares of the company’s stock valued at $10,024,000 after purchasing an additional 45,643 shares during the period. Finally, Dupont Capital Management Corp increased its holdings in shares of Duluth by 61.7% in the third quarter. Dupont Capital Management Corp now owns 24,840 shares of the company’s stock valued at $504,000 after purchasing an additional 9,475 shares during the period. 37.48% of the stock is currently owned by institutional investors and hedge funds.

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About Duluth

Duluth Holdings Inc is a lifestyle brand of men’s and women’s casual wear, workwear and accessories. The Company offers a line of functional products, such as its Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company’s segments include direct and retail. The direct segment includes revenues from the Company’s Website and catalogs.

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