In a report released yesterday, Jeff Van Sinderen from B.Riley FBR maintained a Hold rating on DSW Inc (NYSE: DSW), with a price target of $22. The company’s shares closed yesterday at $25.64, close to its 52-week high of $26.11.
Van Sinderen said:
“DSW reports 1Q results pre-market on 5/30. Even though cold weather was a damper on performance in certain regions, the Y/Y comparison is arguably easier in other respects. Overall, we believe that DSW business was positive in 1Q and, after the April calendar-shift headwind, our sense is that it has improved as the weather has warmed in May. We expect that SG&A deleveraged, as the company pursued market share with the intention to build sales before focusing on balancing expenses. Marketing expense likely increased during pursuit of market share that will remain available as the space loses competitors’ doors including 9 West.”
According to TipRanks.com, Sinderen is a 1-star analyst with an average return of -2.4% and a 45.8% success rate. Sinderen covers the Services sector, focusing on stocks such as Tilly’s Inc, Kirkland’s, and Zumiez Inc.
Currently, the analyst consensus on DSW Inc is Moderate Buy and the average price target is $23.33, representing a -9.0% downside.
In a report issued on May 21, Standpoint Research also downgraded the stock to Hold.
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DSW Inc’s market cap is currently $2.05B and has a P/E ratio of 30.89. The company has a Price to Book ratio of 2.16.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Last month, William L. Jordan, the EVP, Chief Admin Officer of DSW sold 34,412 shares for a total of $773,238.
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DSW, Inc. engages in the distribution of footwear and accessory brands. It offers a range of dress, casual and athletic footwear and accessories for women, men and kids. It operates through the DSW, and Affiliated Business Group segments.
