MKM Partners Reiterates a Hold Rating on DSW Inc

By George MacDonald

In a report released today, Patrick Mckeever from MKM Partners reiterated a Hold rating on DSW Inc (NYSE: DSW), with a price target of $23. The company’s shares opened today at $23.95.

Mckeever noted, “We’re going to continue to take a wait-and-see approach, in part because we continue to see some risk to DSW’s traditional women’s footwear business.”

According to TipRanks.com, Mckeever is a 5-star analyst with an average return of 7.7% and a 69.6% success rate. Mckeever covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Wal-Mart Stores, and Dollar General.

Currently, the analyst consensus on DSW Inc is Moderate Buy and the average price target is $23.83, representing a -0.5% downside.

In a report released today, Citigroup also maintained a Hold rating on the stock with a $24 price target.

Based on DSW Inc`s latest earnings report from April 30, the company posted quarterly revenue of $681.3M and quarterly net profit of $30.01M. In comparison, last year the company earned revenue of $627.2M and had a net profit of $37.61M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DSW in relation to earlier this year. Most recently, in May 2016, Roger Rawlins, a the EVP, Chief Innovation Officer of DSW bought 12,249 shares for a total of $250,982.

DSW, Inc. is a branded footwear and accessories retailer, which offers brand name and designer dress, casual, and athletic footwear and accessories for women, men and kids. It operates through DSW and Affiliated Business Group (ABG) segments. The company was founded on January 20, 1969 and is headquaretred in Columbus, OH.