Ralph Lauren (NYSE:RL – Get a Note) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report released Friday to clients and investors.
Several other research companies have also recently commented on RL. JPMorgan Chase & Co. upgraded Ralph Lauren from a “neutral” rating to an “overweight” rating and set a price target of $142.00 for the company in a Thursday, March 17 report. Citigroup downgraded Ralph Lauren from a “buy” rating to a “neutral” rating and lowered its price target for the company from $140.00 to $98.00 in a Monday, May 23 research note. Wells Fargo & Company lowered its price target on Ralph Lauren to $95.00 in a Wednesday, May 25 research note. Truist Financial raised its price target on Ralph Lauren from $141.00 to $156.00 in a Friday, February 4 research note. Finally, Zacks Investment Research downgraded Ralph Lauren from a “Strong Buy” rating to a “Hold” rating and set a price target of $115.00 for the company. in a research note on Thursday, March 10. One research analyst gave the stock a sell rating, seven issued a hold rating and nine issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.40.
Ralph Lauren stock opened Friday at $104.10. Ralph Lauren has a 12-month low of $86.55 and a 12-month high of $135.99. The stock has a 50-day moving average of $104.51 and a two-hundred-day moving average of $113.48. The company has a current ratio of 1.87, a quick ratio of 1.44 and a debt ratio of 0.58. The stock has a market capitalization of $7.41 billion, a price/earnings ratio of 12.98, a PEG ratio of 1.34 and a beta of 1.38.
Ralph Lauren (NYSE:RL – Get Rating) last released quarterly earnings data on Tuesday, May 24. The textile maker reported earnings per share of $0.49 for the quarter, beating analysts’ consensus estimate of $0.36 by $0.13. The company posted revenue of $1.53 billion in the quarter, versus $1.46 billion expected by analysts. Ralph Lauren had a return on equity of 23.00% and a net margin of 9.65%. The company’s revenue for the quarter increased 18.7% year over year. During the same period last year, the company achieved EPS of $0.38. Stock analysts predict that Ralph Lauren will post earnings per share of 8.43 for the current year.
Ralph Lauren said its board of directors on Thursday (February 3) authorized a stock repurchase plan that allows the company to repurchase $1.50 billion in outstanding stock. This repurchase authorization allows the textile manufacturer to repurchase up to 17.3% of its shares through purchases on the open market. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
A number of institutional investors have recently changed their stock portfolios. Morgan Stanley increased its stake in shares of Ralph Lauren by 58.3% during the second quarter. Morgan Stanley now owns 202,492 shares of the textile maker worth $23,855,000 after buying an additional 74,615 shares last quarter. First Republic Investment Management Inc. acquired a new position in Ralph Lauren stock during the third quarter worth approximately $517,000. Natixis acquired a new position in Ralph Lauren stock during the third quarter worth approximately $13,457,000. HS Management Partners LLC acquired a new position in Ralph Lauren stock during the third quarter worth approximately $173,153,000. Finally, Franklin Resources Inc. increased its stake in Ralph Lauren shares by 23.0% during the third quarter. Franklin Resources Inc. now owns 2,617 shares of the textile maker worth $290,000 after buying 489 additional shares last quarter. Hedge funds and other institutional investors own 99.89% of the company’s shares.
Ralph Lauren Company Profile (Get a rating)
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The Company offers apparel, including a range of apparel and accessories for men, women and children, which includes casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, jewelry fashion and refined, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods and belts; home products comprised of bed and bath lines, furniture, fabrics and wall coverings, lighting, table tops, flooring and giftware; and perfumes.
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