DA Davidson Issues Pessimistic Forecast for Destination XL Group (NASDAQ:DXLG) Stock Price

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

Destination XL Group Stock Down 4.6 %

DXLG opened at $1.76 on Friday. Destination XL Group has a 52 week low of $1.75 and a 52 week high of $3.93. The business has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $2.59. The firm has a market cap of $95.58 million, a P/E ratio of 11.73 and a beta of 1.15.

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

Institutional Trading of Destination XL Group

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

About Destination XL Group

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.