Duckhorn Portfolio (NYSE:NAPA) Shares Gap Up Following Strong Earnings

The Duckhorn Portfolio, Inc. (NYSE:NAPA)’s share price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.40, but opened at $10.89. Duckhorn Portfolio shares last traded at $10.89, with a volume of 27,680,155 shares changing hands.

The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $107.40 million for the quarter, compared to analysts’ expectations of $104.76 million. Duckhorn Portfolio had a net margin of 15.69% and a return on equity of 6.45%. Duckhorn Portfolio’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS.

Analyst Ratings Changes

Separately, Barclays decreased their target price on shares of Duckhorn Portfolio from $8.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.57.

Hedge Funds Weigh In On Duckhorn Portfolio

A number of institutional investors have recently made changes to their positions in NAPA. Chilton Investment Co. Inc. increased its holdings in shares of Duckhorn Portfolio by 34.7% in the 4th quarter. Chilton Investment Co. Inc. now owns 412,041 shares of the company’s stock worth $4,059,000 after buying an additional 106,184 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Duckhorn Portfolio by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,456 shares of the company’s stock worth $172,000 after buying an additional 1,555 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Duckhorn Portfolio in the 1st quarter worth $878,000. Capstone Investment Advisors LLC purchased a new stake in shares of Duckhorn Portfolio in the 1st quarter valued at $1,387,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in shares of Duckhorn Portfolio in the 1st quarter valued at $515,000.

Duckhorn Portfolio Stock Up 102.7 %

The company has a market cap of $1.61 billion, a PE ratio of 20.15, a PEG ratio of 4.86 and a beta of 0.21. The stock’s 50 day moving average price is $6.25 and its 200-day moving average price is $7.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 8.09.

Duckhorn Portfolio Company Profile

The Duckhorn Portfolio, Inc produces and sells wines in North America. The company offers wines under a portfolio of brands, including Duckhorn Vineyards, Decoy, Goldeneye, Paraduxx, Migration, Canvasback, Calera, Kosta Browne, Greenwing, and Postmark. It sells wines to distributors, and directly to retail accounts and consumers.