Susquehanna Bancshares upgraded shares of Designer Brands (NYSE:DBI) from a neutral rating to a positive rating in a report published on Monday morning, BenzingaRatingsTable reports. Susquehanna Bancshares currently has $27.00 price objective on the stock, up from their prior price objective of $18.00.
Other research analysts have also recently issued research reports about the stock. Needham & Company LLC set a $32.00 target price on shares of Designer Brands and gave the stock a buy rating in a report on Thursday, August 22nd. TheStreet cut shares of Designer Brands from a b- rating to a c+ rating in a report on Monday, August 12th. Wedbush set a $22.00 target price on shares of Designer Brands and gave the stock a hold rating in a report on Wednesday, August 21st. Canaccord Genuity cut their target price on shares of Designer Brands from $25.00 to $24.00 and set a hold rating on the stock in a report on Friday, May 31st. Finally, Zacks Investment Research cut shares of Designer Brands from a buy rating to a hold rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Designer Brands currently has an average rating of Buy and a consensus price target of $23.86.
Shares of NYSE DBI opened at $17.30 on Monday. Designer Brands has a one year low of $14.07 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.34. The company’s 50 day simple moving average is $16.05. The company has a market capitalization of $1.22 billion, a PE ratio of 10.42, a P/E/G ratio of 0.59 and a beta of 1.19.
The company also recently announced a — dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be issued a $0.25 dividend. This represents a dividend yield of 6.1%. The ex-dividend date is Thursday, September 19th. Designer Brands’s dividend payout ratio is 60.24%.
In related news, Director Joanne Zaiac sold 3,688 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $19.14, for a total value of $70,588.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Deborah L. Ferree sold 69,806 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.37, for a total value of $1,142,724.22. 17.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Advisors Preferred LLC purchased a new stake in Designer Brands in the second quarter worth $26,000. Truvestments Capital LLC purchased a new stake in Designer Brands in the second quarter worth $27,000. US Bancorp DE purchased a new stake in Designer Brands in the second quarter worth $31,000. Advisory Services Network LLC purchased a new stake in Designer Brands in the first quarter worth $37,000. Finally, LS Investment Advisors LLC purchased a new stake in Designer Brands in the second quarter worth $34,000. 84.57% of the stock is owned by institutional investors.
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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