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

DA Davidson reaffirmed their buy rating on shares of Destination XL Group (NASDAQ:DXLG) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $1.50 price target on the stock.

Destination XL Group Trading Down 7.0%

NASDAQ DXLG opened at $0.66 on Wednesday. The business’s 50 day moving average is $0.57 and its two-hundred day moving average is $0.76. Destination XL Group has a 12-month low of $0.44 and a 12-month high of $1.69. The stock has a market capitalization of $36.17 million, a price-to-earnings ratio of -1.00 and a beta of 1.23.

Destination XL Group (NASDAQ:DXLG) last released its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Destination XL Group had a negative return on equity of 8.96% and a negative net margin of 8.25%.The business had revenue of $112.10 million for the quarter, compared to analyst estimates of $112.32 million.

Institutional Investors Weigh In On Destination XL Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Destination XL Group by 24.4% in the second quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock valued at $48,000 after acquiring an additional 8,404 shares during the period. Jane Street Group LLC lifted its holdings in Destination XL Group by 32.9% in the first quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock valued at $92,000 after acquiring an additional 15,593 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Destination XL Group by 7.2% in the second quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock valued at $458,000 after acquiring an additional 27,651 shares during the period. Two Sigma Investments LP lifted its holdings in Destination XL Group by 64.8% in the third quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock valued at $179,000 after acquiring an additional 53,773 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Destination XL Group in the second quarter valued at $72,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.