DSW Inc. (DSW) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of DSW Inc. (NYSE:DSW) from a hold rating to a buy rating in a report issued on Wednesday morning. The brokerage currently has $27.00 target price on the stock.
According to Zacks, “DSW is a specialty branded footwear retailer operating DSW stores and also supplies, under supply arrangements, to related retailers and to other non-related retailers in the United States. “
A number of other research analysts also recently issued reports on the company. B. Riley reissued a neutral rating and issued a $23.00 price objective on shares of DSW in a research note on Wednesday, August 31st. Wedbush reissued a neutral rating and issued a $22.00 price objective on shares of DSW in a research note on Tuesday, November 1st. Canaccord Genuity reissued a hold rating and issued a $23.00 price objective on shares of DSW in a research note on Wednesday, September 7th. Jefferies Group set a $28.00 price objective on DSW and gave the company a buy rating in a research note on Thursday, November 24th. Finally, Credit Suisse Group AG reissued a hold rating and issued a $23.00 price objective on shares of DSW in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $24.52.
DSW (NYSE:DSW) opened at 23.76 on Wednesday. The company’s 50-day moving average price is $21.95 and its 200 day moving average price is $22.34. The firm has a market capitalization of $1.96 billion, a PE ratio of 18.65 and a beta of 0.72. DSW has a 12 month low of $18.51 and a 12 month high of $29.53.
DSW (NYSE:DSW) last announced its earnings results on Tuesday, November 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $697 million for the quarter, compared to the consensus estimate of $710.42 million. DSW had a return on equity of 12.45% and a net margin of 3.90%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts predict that DSW will post $1.40 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.37%. DSW’s payout ratio is presently 62.99%.
In other news, EVP William L. Jordan sold 42,423 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $25.00, for a total value of $1,060,575.00. Following the transaction, the executive vice president now owns 72,333 shares in the company, valued at approximately $1,808,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Deborah L. Ferree sold 114,854 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $24.88, for a total value of $2,857,567.52. Following the completion of the transaction, the chairman now owns 228,774 shares in the company, valued at approximately $5,691,897.12. The disclosure for this sale can be found here. 20.30% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in shares of DSW by 14.5% in the third quarter. D.A. Davidson & CO. now owns 9,075 shares of the company’s stock worth $185,000 after buying an additional 1,150 shares during the last quarter. Credit Suisse AG increased its position in shares of DSW by 133.9% in the third quarter. Credit Suisse AG now owns 610,437 shares of the company’s stock worth $12,502,000 after buying an additional 349,490 shares during the last quarter. Penn Capital Management Co. Inc. increased its position in DSW by 4.5% in the third quarter. Penn Capital Management Co. Inc. now owns 73,277 shares of the company’s stock valued at $1,501,000 after buying an additional 3,141 shares during the last quarter. Verition Fund Management LLC purchased a new position in DSW during the third quarter valued at approximately $385,000. Finally, Boston Private Wealth LLC purchased a new position in DSW during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 85.00% of the company’s stock.
DSW Inc is a footwear retailer. The Company offers assortment of shoes, handbags and accessories for women, men and children. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. The DSW segment includes DSW stores and dsw.com. The Company, through its ABG segment, partners with approximately three other retailers to help build and optimize their footwear businesses.
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