Designer Brands Inc. (NYSE:DBI) is one of the best performers on the stock market today. At current price of $16.42, the shares have already added 0.54 points (3.4% higher) from its previous close of $15.88. Should you buy or avoid them? The stock sets an active trading volume day with a reported 248129 contracts so far this session. DBI shares had a relatively better volume day versus average trading capacity of 1.32 million shares, but with a 60.5 million float and a -5.14% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DBI stock indicates that the average analyst price target is $23.86 per share. This means the stock has a potential increase of 45.31% from where the DBI share price has been trading recently which is between $15.66 and $15.97.
During the recent trading session for Designer Brands Inc. (NYSE:DBI), the company witnessed their stock drop by $-0.56 over a week and tumble down $-2.03 from the price 20 days ago. When compared to their established 52-week high of $30.73, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/03/19. The recent low of $14.07 stood for a -46.57% since 08/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.15 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Designer Brands Inc., the two-week RSI stands at 45.79. This figure suggests that DBI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DBI readings is similarly very revealing as it has a stochastic reading of 17.78% at this stage. This figure means that DBI share price today is being overbought.
Technical chart claims that Designer Brands Inc. (DBI) would settle between $16.01/share to $16.15/share level. However, if the stock price goes below the $15.7 mark, then the market for Designer Brands Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.53 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.32. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Susquehanna raised their recommendation on shares of DBI from Neutral to Positive in their opinion released on September 16. Telsey Advisory Group analysts again handed out a Outperform recommendation to Designer Brands Inc. (NYSE:DBI) stock but they lifted target price for the shares in a flash note issued to investors on August 28. The target price has been raised from $26 to $19.
DBI equity has an average rating of 2.68, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Designer Brands Inc. (NYSE:DBI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, DBI stock price is currently trading at 7.24X forward 12-month Consensus EPS estimates, and its P/E ratio is 23 while for the average stock in the same group, the multiple is 25.2. Designer Brands Inc. current P/B ratio of 1.6 means it is trading at a discount against its industry’s 7.5.