DA Davidson slashes price target on Destination XL Group Inc. [DXLG] – find out why.

Destination XL Group Inc. [NASDAQ: DXLG] gained 19.76% or 0.83 points to close at $5.03 with a heavy trading volume of 3049727 shares. The company report on August 25, 2022 that Destination XL Group, Inc. Reports Second Quarter Financial Results.

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Second Quarter Comparable Sales up 6.1%; Second Quarter EPS $0.85 per diluted share – includes Release of Tax ReservesRaises FY’22 Sales Guidance Range to $520.0M – $540.0M.

Destination XL Group, Inc. (NASDAQ: DXLG), the leading omni-channel specialty retailer of Big + Tall men’s clothing and shoes, today reported operating results for the second quarter of fiscal 2022 and raised sales guidance for the fiscal year.

It opened the trading session at $4.98, the shares rose to $5.06 and dropped to $4.66, the range by which the price of stock traded the whole day. The daily chart for DXLG points out that the company has recorded 19.19% gains over the past six months. However, it is still -53.82% lower than its most recent low trading price.

If we look at the average trading volume of 659.40K shares, DXLG reached to a volume of 3049727 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Destination XL Group Inc. [DXLG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DXLG shares is $8.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DXLG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

DA Davidson have made an estimate for Destination XL Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2021.

The Average True Range (ATR) for Destination XL Group Inc. is set at 0.26, with the Price to Sales ratio for DXLG stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 4.75, with the Price to Cash per share for the same quarter was set at 0.12. Price to Free Cash Flow for DXLG in the course of the last twelve months was 5.10 with Quick ratio for the last quarter at 0.20.

Trading performance analysis for DXLG stock

Destination XL Group Inc. [DXLG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.98. With this latest performance, DXLG shares gained by 20.33% in over the last four-week period, additionally plugging by 19.19% over the last 6 months – not to mention a drop of -6.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DXLG stock in for the last two-week period is set at 68.32, with the RSI for the last a single of trading hit 73.38, and the three-weeks RSI is set at 64.05 for Destination XL Group Inc. [DXLG]. The present Moving Average for the last 50 days of trading for this stock 4.06, while it was recorded at 4.45 for the last single week of trading, and 4.97 for the last 200 days.

Destination XL Group Inc. [DXLG]: A deeper dive into fundamental analysis

Destination XL Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.20.

Destination XL Group Inc. [DXLG]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DXLG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Destination XL Group Inc. go to 15.00%.

An analysis of insider ownership at Destination XL Group Inc. [DXLG]

There are presently around $204 million, or 70.40% of DXLG stock, in the hands of institutional investors. The top three institutional holders of DXLG stocks are: AWM INVESTMENT COMPANY, INC. with ownership of 10,970,434, which is approximately -1.005% of the company’s market cap and around 3.50% of the total institutional ownership; WOLF HILL CAPITAL MANAGEMENT, LP, holding 3,441,654 shares of the stock with an approximate value of $17.31 million in DXLG stocks shares; and BLACKROCK INC., currently with $15.74 million in DXLG stock with ownership of nearly 581.841% of the company’s market capitalization.

68 institutional holders increased their position in Destination XL Group Inc. [NASDAQ:DXLG] by around 10,426,474 shares. Additionally, 43 investors decreased positions by around 5,169,351 shares, while 13 investors held positions by with 24,953,426 shares. The mentioned changes placed institutional holdings at 40,549,251 shares, according to the latest SEC report filing. DXLG stock had 32 new institutional investments in for a total of 2,709,787 shares, while 20 institutional investors sold positions of 3,057,581 shares during the same period.


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