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

Destination XL Group (NASDAQ:DXLG) had its price objective lowered by DA Davidson from $3.50 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 15.83% from the company’s current price.

Separately, StockNews.com cut shares of Destination XL Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th.

Destination XL Group Stock Performance

Shares of DXLG stock opened at $2.59 on Tuesday. Destination XL Group has a fifty-two week low of $2.15 and a fifty-two week high of $4.68. The firm has a market capitalization of $140.66 million, a PE ratio of 17.27 and a beta of 1.30. The stock’s 50-day simple moving average is $2.65 and its 200-day simple moving average is $2.99.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings data on Friday, November 22nd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Destination XL Group had a return on equity of 7.21% and a net margin of 1.98%. During the same quarter last year, the business posted $0.06 earnings per share.

Hedge Funds Weigh In On Destination XL Group

A number of hedge funds have recently made changes to their positions in DXLG. Barclays PLC increased its position in shares of Destination XL Group by 270.2% during the third quarter. Barclays PLC now owns 70,343 shares of the company’s stock worth $207,000 after purchasing an additional 51,341 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Destination XL Group by 19.7% in the third quarter. Jane Street Group LLC now owns 64,253 shares of the company’s stock worth $189,000 after buying an additional 10,562 shares in the last quarter. State Street Corp grew its stake in Destination XL Group by 0.6% during the 3rd 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. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Destination XL Group in the 3rd quarter valued at about $2,940,000. Finally, Intech Investment Management LLC acquired a new position in Destination XL Group in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.