Shares of Duluth Holdings Inc (NASDAQ:DLTH) fell 10.3% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $13.32 and last traded at $13.37. 1,309,832 shares traded hands during trading, an increase of 266% from the average session volume of 358,291 shares. The stock had previously closed at $14.90.

The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The company had revenue of $114.24 million for the quarter, compared to analyst estimates of $114.08 million. Duluth had a return on equity of 11.00% and a net margin of 2.82%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) earnings per share.

Several brokerages have commented on DLTH. Zacks Investment Research upgraded shares of Duluth from a “sell” rating to a “hold” rating in a report on Monday, February 18th. BidaskClub upgraded shares of Duluth from a “sell” rating to a “hold” rating in a report on Monday, June 10th. William Blair downgraded shares of Duluth from an “outperform” rating to a “market perform” rating and set a $18.90 target price on the stock. in a report on Friday, April 5th. Robert W. Baird upgraded shares of Duluth from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Tuesday, May 7th. Finally, DA Davidson lifted their price objective on shares of Duluth to $15.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.58.

In other news, COO Allen L. Dittrich sold 6,000 shares of Duluth stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $14.94, for a total value of $89,640.00. Following the sale, the chief operating officer now directly owns 173,712 shares in the company, valued at $2,595,257.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 40.72% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Duluth by 37.9% in the fourth quarter. Legal & General Group Plc now owns 1,801 shares of the company’s stock valued at $45,000 after purchasing an additional 495 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Duluth by 25.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,325 shares of the company’s stock valued at $80,000 after purchasing an additional 682 shares during the last quarter. Redmond Asset Management LLC raised its holdings in shares of Duluth by 3.1% in the first quarter. Redmond Asset Management LLC now owns 23,760 shares of the company’s stock valued at $566,000 after purchasing an additional 706 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Duluth by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 323,181 shares of the company’s stock valued at $8,154,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Duluth by 3.3% in the first quarter. Swiss National Bank now owns 34,700 shares of the company’s stock valued at $827,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 42.22% of the company’s stock.

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 2.25. The firm has a market cap of $436.40 million, a PE ratio of 18.57, a P/E/G ratio of 0.78 and a beta of 0.33.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2019/06/16/duluth-nasdaqdlth-shares-down-10-3-on-disappointing-earnings.html.

Duluth Company Profile (NASDAQ:DLTH)

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.

Further Reading: How to track put option volume

Receive News & Ratings for Duluth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Duluth and related companies with MarketBeat.com's FREE daily email newsletter.