DA Davidson Has Lowered Expectations for Destination XL Group (NASDAQ:DXLG) Stock Price

Destination XL Group (NASDAQ:DXLG) had its price objective dropped by analysts at DA Davidson from $3.00 to $2.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 42.05% from the company’s previous close.

Destination XL Group Stock Down 4.6 %

Shares of NASDAQ DXLG opened at $1.76 on Friday. The company’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $2.59. Destination XL Group has a 52-week low of $1.75 and a 52-week high of $3.93. The firm has a market cap of $95.58 million, a price-to-earnings ratio of 11.73 and a beta of 1.15.

Destination XL Group (NASDAQ:DXLG) last announced its earnings results on Thursday, March 20th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $119.20 million for the quarter, compared to analyst estimates of $120.93 million. Destination XL Group had a net margin of 1.98% and a return on equity of 7.21%. Equities research analysts anticipate that Destination XL Group will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Destination XL Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Destination XL Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,235,802 shares of the company’s stock worth $3,325,000 after purchasing an additional 4,261 shares during the period. ProShare Advisors LLC raised its stake in Destination XL Group by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 15,091 shares of the company’s stock worth $41,000 after purchasing an additional 4,967 shares during the period. SG Americas Securities LLC raised its stake in Destination XL Group by 0.5% during the fourth quarter. SG Americas Securities LLC now owns 1,027,808 shares of the company’s stock worth $2,765,000 after purchasing an additional 5,349 shares during the period. State Street Corp raised its stake in Destination XL Group by 0.6% during the third quarter. State Street Corp now owns 1,058,907 shares of the company’s stock worth $3,113,000 after purchasing an additional 6,300 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Destination XL Group by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 31,451 shares of the company’s stock worth $85,000 after purchasing an additional 6,850 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Destination XL Group Company Profile

Destination XL Group, Inc, together with its subsidiaries, operates as a specialty retailer of big and tall men’s clothing and shoes in the United States. The company’s stores offer sportswear and dresswear; fashion-neutral items, including jeans, casual pants, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.