Duluth (NASDAQ:DLTH) Downgraded by Robert W. Baird to “Neutral”

Posted by Brenda Bartman on Sep 4th, 2026

Duluth (NASDAQ:DLTH – Get Free Report) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They presently have a $5.00 price objective on the stock. Robert W. Baird’s price objective would suggest a potential upside of 12.11% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on DLTH. Zacks Research cut Duluth from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings raised Duluth from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Finally, Wall Street Zen raised shares of Duluth to a “hold” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Duluth has an average rating of “Hold” and a consensus target price of $5.00.

View Our Latest Analysis on Duluth

Duluth Price Performance

Shares of DLTH opened at $4.46 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.30 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $4.10 and its 200 day simple moving average is $3.51. Duluth has a 1-year low of $2.02 and a 1-year high of $5.09. The company has a market cap of $169.48 million, a price-to-earnings ratio of -13.94 and a beta of 1.38.

Duluth (NASDAQ:DLTH – Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.51. The business had revenue of $121.39 million for the quarter, compared to analyst estimates of $119.91 million. Duluth had a negative return on equity of 3.69% and a negative net margin of 2.00%. On average, research analysts forecast that Duluth will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Duluth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in shares of Duluth by 50.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company’s stock valued at $152,000 after purchasing an additional 29,521 shares during the last quarter. Empowered Funds LLC boosted its stake in Duluth by 9.3% in the first quarter. Empowered Funds LLC now owns 101,447 shares of the company’s stock valued at $177,000 after buying an additional 8,597 shares in the last quarter. Blair William & Co. IL boosted its stake in Duluth by 17.2% in the third quarter. Blair William & Co. IL now owns 113,510 shares of the company’s stock valued at $444,000 after buying an additional 16,678 shares in the last quarter. Squarepoint Ops LLC bought a new position in Duluth in the third quarter valued at about $85,000. Finally, Barclays PLC raised its stake in Duluth by 32.2% during the fourth quarter. Barclays PLC now owns 58,043 shares of the company’s stock worth $121,000 after acquiring an additional 14,136 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors.

Key Duluth News

Here are the key news stories impacting Duluth this week:

Positive Sentiment: Profitability improved sharply: Duluth reported $18.4 million in net income, or $0.50 diluted EPS, compared with $1.3 million, or $0.04 per share, a year earlier. Adjusted EBITDA rose to $27.0 million from $12.0 million, exceeding expectations. Duluth Holdings Second-Quarter Financial Results
Positive Sentiment: Full-year EBITDA guidance was raised: Management increased fiscal 2026 adjusted EBITDA guidance to $38 million-$42 million from $28 million-$32 million, signaling confidence in margin expansion, inventory discipline and improved operating execution. Duluth Raises Adjusted EBITDA Outlook
Positive Sentiment: Margins and liquidity strengthened: Gross margin expanded to 72.8%, or 59.6% excluding tariff refunds, while inventory declined 15.5%. The company ended the quarter with approximately $96 million of net liquidity and no borrowings on its asset-based lending facility.
Neutral Sentiment: Revenue guidance was maintained: Fiscal 2026 net sales guidance remains $540 million-$560 million, broadly consistent with the approximately $554 million analyst consensus. Duluth Q2 Income and Revenue Outlook
Negative Sentiment: Sales trends remain weak: Second-quarter revenue fell 7.8% year over year to $121.4 million. Direct-to-consumer sales declined 11.5% because of lower web traffic and conversion, while store sales fell 2.4%.
Negative Sentiment: Some earnings benefits were temporary: Results included $16.3 million in tariff refunds, contributing roughly $0.44 of EPS and materially lifting reported margins. Investors may therefore focus on whether underlying gains from pricing, sourcing and inventory management persist.

Duluth Company Profile

(Get Free Report)

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company’s product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.