BMO Capital Remains Bullish on Duluth Holdings Inc. (DLTH) Following 3Q Report

BMO Capital reiterated an Outperform rating and $35.00 price target on Duluth Holdings Inc. (NASDAQ: DLTH) following the company's 3Q earnings report. DLTH reported 3Q EPS of $0.01, ahead of consensus estimates of $0.00. Sales growth came in short of estimates at $67.0 million versus consensus of roughly $69.2 million.

Analyst John Morris commented, "DLTH reported a 3Q EPS beat, but provided guidance that was disappointing. The guidance likely reflects the continuation of 3Q headwinds (e.g. unfavorable weather) that hindered the business. Although a slight setback, our longterm thesis remains intact as we believe these headwinds are temporary in nature. We highlight that retail stores (one of DLTH's main growth drivers) continued to perform well and the company announced a further acceleration of its store opening plans (now 8-10 new stores in 2017E on a base of 16). We remain Outperform-rated."

For an analyst ratings summary and ratings history on Duluth Holdings click here. For more ratings news on Duluth Holdings click here.

Shares of Duluth Holdings closed at $37.04 yesterday.

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