DSW Inc. (DSW) Shares Gap Up on Analyst Upgrade

DSW Inc. (NYSE:DSW)’s share price gapped up before the market opened on Monday after Buckingham Research raised their price target on the stock from $18.00 to $22.00. The stock had previously closed at $19.03, but opened at $20.20. Buckingham Research currently has a neutral rating on the stock. DSW shares last traded at $22.15, with a volume of 5638700 shares trading hands.

Other equities analysts have also recently issued reports about the stock. B. Riley reaffirmed a “buy” rating and set a $22.00 target price on shares of DSW in a research note on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 target price (up from $21.00) on shares of DSW in a research note on Wednesday, August 23rd. Standpoint Research raised shares of DSW from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 target price on shares of DSW in a research note on Thursday, September 28th. Finally, Canaccord Genuity set a $17.00 price objective on shares of DSW and gave the stock a “hold” rating in a research note on Sunday, August 20th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. DSW has an average rating of “Hold” and a consensus target price of $21.58.

In related news, Chairman Deborah L. Ferree sold 10,073 shares of DSW stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $21.53, for a total transaction of $216,871.69. Following the completion of the sale, the chairman now owns 113,920 shares in the company, valued at approximately $2,452,697.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William L. Jordan sold 10,000 shares of DSW stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $21.32, for a total transaction of $213,200.00. Following the sale, the executive vice president now owns 51,588 shares of the company’s stock, valued at approximately $1,099,856.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,891 shares of company stock valued at $2,559,458. 20.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new stake in DSW during the 3rd quarter valued at about $152,000. PNC Financial Services Group Inc. lifted its holdings in DSW by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock valued at $155,000 after buying an additional 283 shares in the last quarter. SG Americas Securities LLC bought a new stake in DSW during the 2nd quarter valued at about $196,000. Wealthcare Advisory Partners LLC bought a new stake in DSW during the 3rd quarter valued at about $197,000. Finally, Capstone Asset Management Co. bought a new stake in DSW during the 2nd quarter valued at about $210,000. Institutional investors own 86.11% of the company’s stock.

The firm has a market capitalization of $1,790.00, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.79.

DSW (NYSE:DSW) last posted its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.29 by $0.09. DSW had a net margin of 4.41% and a return on equity of 12.12%. The business had revenue of $680.40 million during the quarter, compared to analyst estimates of $666.66 million. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. equities research analysts expect that DSW Inc. will post 1.48 EPS for the current year.

DSW announced that its board has approved a stock repurchase plan on Tuesday, August 22nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 33.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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DSW Company Profile

DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.

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