Will Duluth and Truck Hero Get Fair IPO Prices?

Many thought that the IPO market would face some pricing difficulty in Thursday’s session when both Square (NYSE: SQ) and Match Group Inc. (NASDAQ: MTCH) entered the market. However despite both companies pricing at the low end of their expected ranges, each has performed incredibly well for the first day of trading thus far.

If these two companies faced some sensitivity in their pricing, the IPO market as a whole would be a little shaky, and other companies set to price might suffer from the resulting valuations.

24/7 Wall St. has picked out a couple major IPOs to review that will be pricing soon, either expected Thursday afternoon or sometime in the very near future.

Duluth Holdings is expected to price its initial public offering on Thursday afternoon. The company expects to price its 6.67 million shares in the range of $14 to $16 per share, with an overallotment option for an additional 1.00 million shares. At the maximum price, the entire offering is valued up to $122.67 million. It intends to list its shares on the Nasdaq Global Market under the symbol DLTH.

The underwriters for Duluth’s offering are William Blair, Baird, Raymond James and BMO Capital Markets.

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This company is a rapidly growing lifestyle brand of men’s and women’s casual wear, workwear and accessories sold exclusively through its own channels. Duluth offers a comprehensive line of innovative, durable and functional products, such as Longtail shirts, Buck Naked underwear and Fire Hose work pants, which reflect its position as the Modern, Self-Reliant American Lifestyle brand.

Truck Hero expects to price roughly 11.11 million shares in the range of $17 to $19 per share, with an overallotment option for an additional 1.67 million shares. At the maximum price, the entire offering is valued up to $242.78 million. The company intends to list on the New York Stock Exchange under the symbol TRUK.

Truck Hero’s underwriters are JPMorgan, Baird, Merrill Lynch, Keybanc, Raymond James, Stifel and SunTrust Robinson Humphrey.

This is a fast-growing designer, manufacturer and marketer of branded consumer accessories for pickup trucks. The pickup truck market is large and expanding, driven in part by evolving pickup designs that have increased functionality and versatility, making trucks more suitable as family and lifestyle vehicles. These products include accessories manufactured by Truck Hero sold through multiple channels, primarily truck bed covers, truck caps and bed liners, as well as a broad range of third-party branded vehicle accessories sold online, including floor mats, grill guards, steps, tool boxes and towing products.

Square shares were last seen trading up 46% at $13.16, with a range on the day so far as $11.05 to $14.78. On the day roughly 39 million shares have moved.

Match shares were trading up 23% at $14.83, with a range of $12.63 to $14.85 on the day thus far. Over 21 million shares have moved on the day.

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