Designer Brands (NYSE:DBI) Downgraded to “Hold” at Zacks Investment Research

Designer Brands (NYSE:DBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Designer Brands Inc. designs, produces and retails footwear and accessories. The Company offers shoes, boots, sandals, sneakers, socks, handbags and accessories. Its operating segment consists of DSW segment, which includes DSW stores and dsw.com and the Affiliated Business Group segment. Designer Brands Inc., formerly known as DSW Inc., is based in Columbus, Ohio. “

Several other brokerages have also issued reports on DBI. ValuEngine raised shares of Designer Brands from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 4th. TheStreet raised shares of Designer Brands from a “c” rating to a “b-” rating in a research note on Thursday, May 30th. Canaccord Genuity reduced their price objective on shares of Designer Brands from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Wedbush dropped their target price on shares of Designer Brands from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Finally, CL King upgraded shares of Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $23.25.

Shares of NYSE DBI traded down $0.69 during mid-day trading on Wednesday, reaching $17.94. 1,364,600 shares of the company were exchanged, compared to its average volume of 1,702,352. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 1.50. The stock has a market cap of $1.48 billion, a PE ratio of 10.81, a P/E/G ratio of 0.66 and a beta of 1.25. Designer Brands has a twelve month low of $17.85 and a twelve 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 for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $878.52 million during the quarter, compared to analysts’ expectations 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 was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 EPS. As a group, analysts predict that Designer Brands will post 1.92 EPS for the current fiscal year.

In other Designer Brands news, Director Harvey L. Sonnenberg sold 7,924 shares of Designer Brands 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Company insiders own 17.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP purchased a new position in Designer Brands during the first quarter valued at $5,915,000. Nisa Investment Advisors LLC purchased a new position in Designer Brands during the first quarter valued at $590,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Designer Brands in the 1st quarter worth about $587,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Designer Brands in the 1st quarter worth about $56,000. Finally, Mason Street Advisors LLC purchased a new position in shares of Designer Brands in the 1st quarter worth about $487,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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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