Destination XL Group (NASDAQ:DXLG) Price Target Cut to $1.25 by Analysts at DA Davidson

Destination XL Group (NASDAQ:DXLG) had its price target lowered by DA Davidson from $1.50 to $1.25 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 97.47% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Destination XL Group in a report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Destination XL Group currently has an average rating of “Hold” and an average price target of $1.25.

Destination XL Group Trading Down 2.6%

NASDAQ DXLG traded down $0.02 on Friday, hitting $0.63. 3,353 shares of the company’s stock traded hands, compared to its average volume of 114,678. Destination XL Group has a 1-year low of $0.43 and a 1-year high of $1.58. The firm’s 50-day moving average price is $0.62 and its two-hundred day moving average price is $0.62. The firm has a market capitalization of $34.99 million, a PE ratio of -0.91 and a beta of 1.28.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Destination XL Group had a negative net margin of 8.77% and a negative return on equity of 8.83%. The firm had revenue of $111.56 million for the quarter, compared to analyst estimates of $109.00 million.

Hedge Funds Weigh In On Destination XL Group

Several institutional investors have recently made changes to their positions in DXLG. Concurrent Investment Advisors LLC grew its position in Destination XL Group by 22.4% during the second quarter. Concurrent Investment Advisors LLC now owns 338,723 shares of the company’s stock valued at $227,000 after buying an additional 61,938 shares during the period. Nantahala Capital Management LLC purchased a new stake in shares of Destination XL Group during the second quarter worth $2,774,966. Empowered Funds LLC purchased a new stake in Destination XL Group during the 2nd quarter valued at about $73,000. Fund 1 Investments LLC purchased a new position in Destination XL Group during the second quarter worth approximately $3,858,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Destination XL Group during the 2nd quarter valued at about $6,298,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

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.