DSW Inc. (NYSE:DSW) Downgraded to “Neutral” at B. Riley

B. Riley downgraded shares of DSW Inc. (NYSE:DSW) from a buy rating to a neutral rating in a research note issued to investors on Thursday, November 2nd. They currently have $20.00 price objective on the stock, down from their prior price objective of $22.00.

Several other equities research analysts have also commented on the company. Wedbush upgraded DSW from a neutral rating to an outperform rating and set a $22.00 price objective on the stock in a research report on Wednesday, July 26th. Standpoint Research upgraded DSW from a hold rating to a buy rating in a research report on Friday, October 20th. Deutsche Bank AG upgraded DSW from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Tuesday, July 25th. Canaccord Genuity set a $17.00 price objective on DSW and gave the stock a hold rating in a research report on Sunday, August 20th. Finally, Zacks Investment Research upgraded DSW from a sell rating to a hold rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $21.58.

DSW (DSW) opened at $19.55 on Thursday. DSW has a fifty-two week low of $15.14 and a fifty-two week high of $25.96. The stock has a market cap of $1,570.00, a PE ratio of 15.98, a PEG ratio of 2.44 and a beta of 0.79.

DSW (NYSE:DSW) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.08). DSW had a return on equity of 12.12% and a net margin of 4.41%. The business had revenue of $708.30 million during the quarter, compared to analyst estimates of $710.24 million. During the same quarter last year, the company posted $0.51 EPS. DSW’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts forecast that DSW will post 1.48 earnings per share for the current fiscal year.

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DSW announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 33.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, Chairman Deborah L. Ferree sold 75,452 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $20.00, for a total transaction of $1,509,040.00. Following the completion of the sale, the chairman now directly owns 199,445 shares of the company’s stock, valued at approximately $3,988,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William L. Jordan sold 2,666 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $20.03, for a total value of $53,399.98. Following the sale, the executive vice president now directly owns 44,254 shares of the company’s stock, valued at $886,407.62. The disclosure for this sale can be found here. Insiders sold a total of 127,891 shares of company stock valued at $2,559,458 over the last ninety days. Corporate insiders own 20.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. acquired a new position in DSW in the 3rd quarter valued at about $152,000. PNC Financial Services Group Inc. grew its position in DSW by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,483 shares of the company’s stock valued at $155,000 after acquiring an additional 283 shares in the last quarter. SG Americas Securities LLC acquired a new position in DSW in the 2nd quarter valued at about $196,000. Wealthcare Advisory Partners LLC acquired a new position in DSW in the 3rd quarter valued at about $197,000. Finally, Capstone Asset Management Co. acquired a new position in DSW in the 2nd quarter valued at about $210,000. 86.11% of the stock is owned by hedge funds and other institutional investors.

About DSW

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.

Analyst Recommendations for DSW (NYSE:DSW)

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