Destination XL Group, Inc. (NASDAQ:DXLG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.
According to Zacks, “Destination XL Group, Inc. is a multi-channel specialty retailer of big & tall men’s apparel with operations throughout the United States, Canada and Europe. It operates under six brands: Destination XL(R), Casual Male XL, Rochester Clothing, B&T Factory Direct, ShoesXL and LivingXL. Its stores offer sportswear, dress clothing, footwear, suits, loungewear, neckwear, and accessories, basic items and lifestyle products. The Company also has electronic commerce and catalog operations. Destination XL Group, Inc., formerly known as Casual Male Retail Group Inc., is headquartered in Canton, Massachusetts. “
Separately, FBR & Co reiterated an “outperform” rating and set a $3.00 price objective on shares of Destination XL Group in a research report on Tuesday, July 11th.
Destination XL Group (NASDAQ DXLG) traded up 2.56% during trading on Monday, reaching $2.00. The company’s stock had a trading volume of 92,191 shares. Destination XL Group has a 52 week low of $1.46 and a 52 week high of $5.00. The firm has a 50-day moving average price of $1.85 and a 200-day moving average price of $2.26. The firm’s market capitalization is $97.06 million.
Destination XL Group (NASDAQ:DXLG) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Destination XL Group had a negative net margin of 2.75% and a negative return on equity of 8.87%. The company had revenue of $121.13 million for the quarter, compared to analyst estimates of $123.57 million. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts anticipate that Destination XL Group will post ($0.19) EPS for the current fiscal year.
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In related news, Director Seymour Holtzman acquired 25,000 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was bought at an average price of $2.05 per share, for a total transaction of $51,250.00. Following the transaction, the director now owns 4,196,064 shares of the company’s stock, valued at $8,601,931.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 31.46% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DXLG. Goldman Sachs Group Inc. lifted its holdings in shares of Destination XL Group by 2,256.7% in the second quarter. Goldman Sachs Group Inc. now owns 300,238 shares of the specialty retailer’s stock valued at $706,000 after purchasing an additional 287,498 shares in the last quarter. VNBTrust National Association purchased a new stake in shares of Destination XL Group in the second quarter valued at $657,000. ICM Asset Management Inc. WA lifted its holdings in shares of Destination XL Group by 97.2% in the first quarter. ICM Asset Management Inc. WA now owns 547,606 shares of the specialty retailer’s stock valued at $1,561,000 after purchasing an additional 269,896 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in shares of Destination XL Group by 7.3% in the second quarter. Prescott Group Capital Management L.L.C. now owns 3,725,969 shares of the specialty retailer’s stock valued at $8,756,000 after purchasing an additional 254,371 shares in the last quarter. Finally, Coliseum Capital Management LLC purchased a new stake in shares of Destination XL Group in the first quarter valued at $618,000. Institutional investors own 76.72% of the company’s stock.
Destination XL Group Company Profile
Destination XL Group, Inc is a specialty retailer of men’s apparel with retail and direct operations in the United States and London, England. The Company operates through the Big & Tall Men’s Apparel segment. The Company operates under the trade names of Destination XL, DXL, Casual Male XL, Casual Male XL outlets, DXL outlets, Rochester Clothing, ShoesXL and LivingXL.
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