Robert W. Baird Issues Pessimistic Forecast for Duluth (NASDAQ:DLTH) Stock Price

Duluth (NASDAQ:DLTH) had its price objective cut by Robert W. Baird from $3.50 to $2.75 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 21.68% from the stock’s previous close.

Separately, StockNews.com began coverage on Duluth in a research report on Sunday, March 9th. They issued a “hold” rating for the company.

Duluth Stock Down 10.7 %

DLTH stock traded down $0.27 during trading on Friday, hitting $2.26. 50,310 shares of the company’s stock traded hands, compared to its average volume of 34,152. The firm has a market capitalization of $71.90 million, a P/E ratio of -2.29 and a beta of 1.30. Duluth has a 1 year low of $2.50 and a 1 year high of $5.08. The company has a quick ratio of 0.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $3.39.

Hedge Funds Weigh In On Duluth

Large investors have recently made changes to their positions in the business. Fruth Investment Management acquired a new position in Duluth during the 4th quarter valued at about $42,000. Taylor & Morgan Wealth Management LLC increased its position in shares of Duluth by 22.7% in the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 27,000 shares of the company’s stock valued at $83,000 after acquiring an additional 5,000 shares during the period. Guardian Wealth Management Inc. purchased a new position in Duluth during the 4th quarter worth approximately $96,000. JPMorgan Chase & Co. boosted its position in Duluth by 106.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,464 shares of the company’s stock worth $122,000 after purchasing an additional 16,743 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Duluth by 14.2% during the 4th quarter. Northern Trust Corp now owns 62,462 shares of the company’s stock worth $193,000 after acquiring an additional 7,769 shares in the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

Duluth Company Profile

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.