DSW (DSW) is Upgraded by Wells Fargo to Market Perform

DSW (DSW) was Upgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Underperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on DSW. Shares were Reiterated by Telsey Advisory Group on May 25, 2016 to “Market Perform” and Lowered the Price Target to $ 23 from a previous price target of $29 .Shares were Reiterated by Canaccord Genuity on May 25, 2016 to “Hold” and Lowered the Price Target to $ 19 from a previous price target of $20 .Shares were Reiterated by MKM Partners on May 23, 2016 to “Neutral” and Lowered the Price Target to $ 24 from a previous price target of $30 .

On the company’s financial health, DSW reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 24, 2016. Analyst had a consensus of $0.46. The company had revenue of $681.27 million for the quarter, compared to analysts expectations of $697.67 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.

DSW opened for trading at $21.89 and hit $22.5 on the upside on Friday, eventually ending the session at $22.36, with a gain of 3.33% or 0.72 points. The heightened volatility saw the trading volume jump to 23,36,385 shares. Company has a market cap of $1,834 M.

In a different news, on May 27, 2016, Roger Rawlins (CEO) purchased 12,249 shares at $20.49 per share price. According to the SEC, on Mar 15, 2016, Mary E Meixelsperger (Senior Vice President, CFO) purchased 118 shares at $33.27 per share price. On Dec 3, 2015, Joseph A. Schottenstein (director) purchased 500,000 shares at $22.93 per share price, according to the Form-4 filing with the securities and exchange commission.

DSW Inc. is a footwear and accessories retailer. The Company offers assortment of shoes handbags and accessories for women and men. The Company operates through two segments: the DSW segment and the Affiliated Business Group (ABG) segment. Its DSW segment includes DSW stores and dsw.com. The Company separates DSW merchandise into four primary categories: women’s footwear; men’s footwear; athletic footwear; and accessories and other. The ABG segment partners with four other retailers to help build and optimize their footwear businesses. As of January 31 2015 the Company operated 431 DSW stores in 42 states the District of Columbia and Puerto Rico. DSW stores average approximately 21500 square feet and carry approximately 22000 pairs of shoes. The Company also offers DSW Rewards through which members earn points towards certificates every time they purchase.


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