Designer Brands Inc (NYSE:DBI) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 7,599,400 shares, an increase of 9.0% from the May 30th total of 6,974,800 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 11.1% of the company’s stock are short sold.
Designer Brands stock traded up $0.16 during midday trading on Tuesday, reaching $18.29. 8,574 shares of the company traded hands, compared to its average volume of 1,249,367. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 0.66 and a beta of 1.23. The company’s 50 day simple moving average is $18.63. Designer Brands has a 12 month low of $17.55 and a 12 month high of $34.63. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.50 and a quick ratio of 0.43.
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, meeting the Zacks’ consensus estimate of $0.43. The company had revenue of $878.52 million for the quarter, compared to the consensus estimate of $874.97 million. Designer Brands had a negative net margin of 0.41% and a positive return on equity of 15.85%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts forecast that Designer Brands will post 1.92 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on DBI shares. Canaccord Genuity reiterated a “hold” rating on shares of National Bank of Canada in a research note on Friday, May 31st. TheStreet downgraded shares of Urban Outfitters from a “b-” rating to a “c+” rating in a research note on Thursday, May 30th. Wedbush reiterated a “hold” rating and issued a $1.00 target price on shares of Regulus Therapeutics in a research note on Thursday, May 16th. CL King upgraded shares of Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research note on Friday, April 12th. Finally, Zacks Investment Research downgraded shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Designer Brands has a consensus rating of “Hold” and a consensus target price of $23.00.
In other news, Director Joanne Zaiac sold 3,688 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.14, for a total value of $70,588.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harvey L. Sonnenberg sold 7,924 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $18.29, for a total transaction of $144,929.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,612 shares of company stock worth $1,536,418. Corporate insiders own 17.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC acquired a new stake in Designer Brands during the 1st quarter worth about $56,000. Nisa Investment Advisors LLC acquired a new stake in Designer Brands during the 1st quarter worth about $590,000. Smith Graham & Co. Investment Advisors LP acquired a new stake in Designer Brands during the 1st quarter worth about $5,915,000. Versant Capital Management Inc acquired a new stake in Designer Brands during the 1st quarter worth about $26,000. Finally, New York State Teachers Retirement System acquired a new stake in Designer Brands during the 1st quarter worth about $852,000. Institutional investors own 79.26% of the company’s stock.
Designer Brands Company Profile
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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