Ralph Lauren Corporation (NYSE:RL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $97.00 price target on the textile maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.56% from the stock’s current price.
According to Zacks, “Ralph Lauren outperformed the industry in the past three months, backed by solid bottom line performance in recent quarters. Notably, first-quarter fiscal 2018 marked the company’s 10th consecutive earnings beat. Further, management remains impressed with first-quarter performance, as the company enhanced quality of sales by reducing promotions and markdowns, alongside reducing SKU count to drive productivity. Also, it managed to curtail inventory levels and also achieved cost savings by lowering operating costs. These factors, which also drove margins, clearly reflect Ralph Lauren’s focus on its Way Forward Plan and Restructuring activities. However, sales continue to be hurt by weak demand, brand exits and efforts to drive sales quality. The company continues to face currency woes which are likely to hurt second-quarter results. Nonetheless, efforts to evolve product and marketing bode well. Estimates have been trending up lately.”
Several other equities research analysts have also issued reports on the stock. Miller Tabak lowered shares of Ralph Lauren Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank Of Canada reissued a “hold” rating and set a $88.00 target price on shares of Ralph Lauren Corporation in a research report on Thursday, October 5th. Tigress Financial reissued a “hold” rating on shares of Ralph Lauren Corporation in a research report on Thursday, September 28th. Barclays PLC started coverage on shares of Ralph Lauren Corporation in a research report on Tuesday, September 19th. They set an “underweight” rating and a $84.00 target price for the company. Finally, Cowen and Company reissued a “hold” rating and set a $89.00 target price on shares of Ralph Lauren Corporation in a research report on Sunday, September 17th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $87.37.
Ralph Lauren Corporation (NYSE:RL) last released its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $1.06 EPS. Ralph Lauren Corporation’s quarterly revenue was down 13.2% compared to the same quarter last year. Equities analysts predict that Ralph Lauren Corporation will post $5.34 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of RL. UBS Asset Management Americas Inc. grew its stake in Ralph Lauren Corporation by 11.0% during the first quarter. UBS Asset Management Americas Inc. now owns 145,367 shares of the textile maker’s stock worth $11,865,000 after buying an additional 14,421 shares during the last quarter. Karp Capital Management Corp bought a new stake in Ralph Lauren Corporation during the first quarter worth about $898,000. State of Wisconsin Investment Board bought a new stake in Ralph Lauren Corporation during the first quarter worth about $638,000. Raymond James Financial Services Advisors Inc. grew its stake in Ralph Lauren Corporation by 54.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,251 shares of the textile maker’s stock worth $347,000 after buying an additional 1,496 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Ralph Lauren Corporation during the first quarter worth about $110,000. 62.88% of the stock is currently owned by hedge funds and other institutional investors.
Ralph Lauren Corporation Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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