Destination XL Group (NASDAQ:DXLG) Receives Buy Rating from DA Davidson

Destination XL Group (NASDAQ:DXLG)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $1.50 target price on the stock. DA Davidson’s target price suggests a potential upside of 125.90% from the stock’s previous close.

Destination XL Group Stock Performance

Shares of DXLG stock traded down $0.02 during mid-day trading on Thursday, reaching $0.66. The company’s stock had a trading volume of 7,921 shares, compared to its average volume of 131,393. The firm’s 50-day moving average is $0.63 and its two-hundred day moving average is $0.73. The company has a market cap of $36.70 million, a P/E ratio of -1.01 and a beta of 1.32. Destination XL Group has a 1-year low of $0.44 and a 1-year high of $1.69.

Destination XL Group (NASDAQ:DXLG) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $103.34 million for the quarter, compared to analysts’ expectations of $105.63 million. Destination XL Group had a negative net margin of 8.25% and a negative return on equity of 8.96%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cibc World Markets Corp acquired a new stake in shares of Destination XL Group in the 4th quarter valued at $313,000. Prescott Group Capital Management L.L.C. acquired a new position in Destination XL Group in the fourth quarter valued at about $1,589,000. CIBC Bancorp USA Inc. bought a new stake in Destination XL Group during the third quarter worth about $445,000. Nantahala Capital Management LLC increased its holdings in shares of Destination XL Group by 74.8% during the third quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock worth $5,902,000 after buying an additional 1,928,226 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Destination XL Group by 47.8% in the 3rd quarter. Bank of America Corp DE now owns 63,384 shares of the company’s stock worth $83,000 after acquiring an additional 20,490 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Destination XL Group Company Profile

Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.