Designer Brands (NYSE:DBI) Rating Lowered to C+ at TheStreet

TheStreet lowered shares of Designer Brands (NYSE:DBI) from a b- rating to a c+ rating in a research note published on Monday morning, TheStreetRatingsTable reports.

Several other equities research analysts also recently issued reports on DBI. ValuEngine downgraded shares of Designer Brands from a sell rating to a strong sell rating in a research report on Thursday, June 13th. Wedbush cut their price objective on shares of Designer Brands from $28.00 to $25.00 and set a neutral rating for the company in a research report on Thursday, May 16th. Zacks Investment Research cut shares of Designer Brands from a buy rating to a hold rating in a report on Tuesday, July 30th. Finally, Canaccord Genuity lowered their target price on shares of Designer Brands from $25.00 to $24.00 and set a hold rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. Designer Brands currently has a consensus rating of Hold and a consensus target price of $23.00.

Shares of DBI stock opened at $14.35 on Monday. The stock’s 50 day moving average is $17.96. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.50 and a quick ratio of 0.43. The firm has a market capitalization of $1.18 billion, a P/E ratio of 8.64, a PEG ratio of 0.53 and a beta of 1.21. Designer Brands has a 12-month low of $14.09 and a 12-month high of $34.63.

Designer Brands (NYSE:DBI) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $878.52 million during the quarter, compared to the consensus estimate of $874.97 million. Designer Brands had a negative net margin of 0.41% and a positive return on equity of 15.85%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. Research analysts forecast that Designer Brands will post 1.92 earnings per share for the current fiscal year.

In other news, Director Harvey L. Sonnenberg sold 7,924 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $18.29, for a total transaction of $144,929.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Deborah L. Ferree sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $18.87, for a total transaction of $1,320,900.00. The disclosure for this sale can be found here. Insiders have sold 81,612 shares of company stock worth $1,536,418 over the last ninety days. Insiders own 17.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in Designer Brands in the second quarter valued at approximately $1,220,000. Essex Investment Management Co. LLC acquired a new stake in Designer Brands in the second quarter valued at approximately $229,000. Nuveen Asset Management LLC acquired a new stake in Designer Brands in the second quarter valued at approximately $5,056,000. Price T Rowe Associates Inc. MD acquired a new stake in Designer Brands in the second quarter valued at approximately $562,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Designer Brands in the second quarter valued at approximately $1,586,000. 81.57% of the stock is currently owned by institutional investors.

About Designer Brands

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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