DA Davidson Reaffirms “Buy” Rating for Destination XL Group (NASDAQ:DXLG)

Destination XL Group (NASDAQ:DXLG)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $1.50 price target on the stock. DA Davidson’s price objective indicates a potential upside of 125.90% from the company’s current price.

Destination XL Group Stock Performance

DXLG traded down $0.02 during midday trading on Thursday, hitting $0.66. The company had a trading volume of 7,921 shares, compared to its average volume of 131,393. Destination XL Group has a twelve month low of $0.44 and a twelve month high of $1.69. The firm’s 50-day simple moving average is $0.63 and its 200-day simple moving average is $0.73. The company has a market capitalization of $36.70 million, a PE ratio of -1.01 and a beta of 1.32.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Destination XL Group had a negative net margin of 8.25% and a negative return on equity of 8.96%. The business had revenue of $103.34 million for the quarter, compared to analysts’ expectations of $105.63 million.

Hedge Funds Weigh In On Destination XL Group

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in Destination XL Group by 24.4% during the second quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock worth $48,000 after buying an additional 8,404 shares during the last quarter. Jane Street Group LLC grew its position in shares of Destination XL Group by 32.9% in the 1st quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock valued at $92,000 after purchasing an additional 15,593 shares during the period. Bridgeway Capital Management LLC increased its stake in Destination XL Group by 7.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock worth $458,000 after purchasing an additional 27,651 shares in the last quarter. Two Sigma Investments LP raised its holdings in Destination XL Group by 64.8% during the 3rd quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock worth $179,000 after buying an additional 53,773 shares during the period. Finally, XTX Topco Ltd bought a new position in Destination XL Group in the second quarter valued at approximately $72,000. Institutional investors own 73.49% of the company’s stock.

About Destination XL Group

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.