Designer Brands (DBI) Gets a Buy Rating from Needham

In a report released today, Rick Patel from Needham maintained a Buy rating on Designer Brands (DBIResearch Report), with a price target of $26.00. The company’s shares closed last Monday at $15.88, close to its 52-week low of $14.08.

According to TipRanks.com, Patel has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.4% and a 40.5% success rate. Patel covers the Services sector, focusing on stocks such as Capri Holdings, Ralph Lauren, and Tiffany & Co.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Designer Brands with a $26.50 average price target.

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Based on Designer Brands’ latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $27.41 million. In comparison, last year the company had a net profit of $39.32 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DBI in relation to earlier this year. Most recently, in September 2019, Deborah Ferree, the V Chairman & President of DBI sold 69,806 shares for a total of $1,142,724.

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Designer Brands, Inc. engages in the design, production, and retail of footwear and accessory brands. It operates through the following segments: U.S. Retail, Canada Retail, Brand Portfolio, and Others. The U.S. Retail segment focuses on stores operated in the U.S. under the DSW Designer Shoe Warehouse banner and its related e-commerce site.