Bank of America Lowers Ralph Lauren (RL) to Underperform

Bank of America downgraded shares of Ralph Lauren (NYSE:RL) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $80.00 target price on the textile maker’s stock, down from their prior target price of $100.14.

RL has been the subject of a number of other reports. Cowen restated a hold rating and issued a $89.00 price objective on shares of Ralph Lauren in a research note on Sunday, September 17th. ValuEngine upgraded shares of Ralph Lauren from a hold rating to a buy rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Ralph Lauren from a hold rating to a buy rating and set a $97.00 price objective for the company in a research note on Tuesday, October 10th. Royal Bank of Canada restated a hold rating and issued a $88.00 price objective on shares of Ralph Lauren in a research note on Thursday, October 5th. Finally, Buckingham Research boosted their price objective on shares of Ralph Lauren from $82.00 to $90.00 and gave the stock a neutral rating in a research note on Wednesday, September 13th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $88.66.

Ralph Lauren (RL) traded down $0.74 during midday trading on Wednesday, reaching $96.11. 1,459,983 shares of the company’s stock were exchanged, compared to its average volume of 1,150,087. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.09 and a quick ratio of 1.55. The firm has a market capitalization of $7,871.48, a PE ratio of 16.56, a PEG ratio of 1.99 and a beta of 0.66. Ralph Lauren has a 1 year low of $66.06 and a 1 year high of $103.09.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, November 2nd. The textile maker reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.09. Ralph Lauren had a net margin of 1.29% and a return on equity of 14.06%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company’s revenue was down 8.6% compared to the same quarter last year. analysts expect that Ralph Lauren will post 5.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, December 28th. Ralph Lauren’s dividend payout ratio (DPR) is currently 206.19%.

In related news, insider Valerie Hermann sold 2,400 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $91.22, for a total transaction of $218,928.00. Following the transaction, the insider now owns 35,028 shares of the company’s stock, valued at $3,195,254.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 32.93% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Ralph Lauren by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,368 shares of the textile maker’s stock valued at $101,000 after buying an additional 96 shares during the period. Pacer Advisors Inc. increased its holdings in Ralph Lauren by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,226 shares of the textile maker’s stock valued at $164,000 after buying an additional 238 shares during the period. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Ralph Lauren in the 3rd quarter valued at $205,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Ralph Lauren in the 3rd quarter valued at $209,000. Finally, Parametrica Management Ltd bought a new stake in Ralph Lauren in the 3rd quarter valued at $263,000. 66.98% of the stock is currently owned by hedge funds and other institutional investors.

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Ralph Lauren 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.

Analyst Recommendations for Ralph Lauren (NYSE:RL)

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