Dillard’s (NYSE:DDS) Shares Gap Down Following Analyst Downgrade

Dillard’s, Inc. (NYSE:DDS)’s stock price gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $524.00 to $449.00. The stock had previously closed at $646.18, but opened at $608.57. JPMorgan Chase & Co. currently has an underweight rating on the stock. Dillard’s shares last traded at $577.2550, with a volume of 76,871 shares trading hands.

A number of other brokerages have also recently issued reports on DDS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dillard’s in a research report on Wednesday, January 21st. Telsey Advisory Group lowered their price objective on Dillard’s from $700.00 to $650.00 and set a “market perform” rating on the stock in a research note on Wednesday. Wall Street Zen upgraded Dillard’s from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group raised their price target on Dillard’s from $184.00 to $460.00 and gave the stock a “sell” rating in a research report on Friday, November 28th. Finally, Zacks Research cut shares of Dillard’s from a “strong-buy” rating to a “hold” rating in a research report on Monday. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Dillard’s has a consensus rating of “Reduce” and a consensus target price of $519.67.

Institutional Investors Weigh In On Dillard’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC lifted its stake in Dillard’s by 1.1% in the 4th quarter. Virtu Financial LLC now owns 1,618 shares of the company’s stock valued at $981,000 after purchasing an additional 17 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Dillard’s by 40.9% during the fourth quarter. Invesco Ltd. now owns 18,851 shares of the company’s stock worth $11,430,000 after buying an additional 5,473 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Dillard’s by 63.4% in the 4th quarter. Corient Private Wealth LLC now owns 1,268 shares of the company’s stock valued at $769,000 after acquiring an additional 492 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Dillard’s by 42.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,278 shares of the company’s stock valued at $775,000 after acquiring an additional 382 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Dillard’s during the 4th quarter valued at $729,000. 67.15% of the stock is owned by institutional investors.

Dillard’s Price Performance

The business has a 50-day moving average of $642.70 and a two-hundred day moving average of $616.22. The company has a current ratio of 2.65, a quick ratio of 1.00 and a debt-to-equity ratio of 0.24. The firm has a market cap of $9.56 billion, a P/E ratio of 16.79 and a beta of 1.27.

Dillard’s (NYSE:DDS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $13.05 EPS for the quarter, beating analysts’ consensus estimates of $9.98 by $3.07. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.03 billion. Dillard’s had a return on equity of 27.55% and a net margin of 8.81%.The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $13.48 earnings per share. On average, sell-side analysts anticipate that Dillard’s, Inc. will post 33.25 earnings per share for the current fiscal year.

About Dillard’s

Dillard’s, Inc (NYSE:DDS), headquartered in Little Rock, Arkansas, is a U.S.-based department store chain founded by William T. Dillard in 1938. Over more than eight decades of operation, the company has grown from a single store in Nashville, Arkansas, to a prominent retailer with a national footprint. Dillard’s equity is publicly traded on the New York Stock Exchange under the ticker DDS.

The company operates approximately 280 departmental stores across 29 states, offering a broad assortment of merchandise that includes men’s and women’s apparel, accessories, cosmetics, footwear, and home furnishings.